Bernstein Liebhard LLP Reminds Investors of the Deadline to File a Lead Plaintiff Motion in a Securities Class Action Lawsuit Against PayPal Holdings, Inc.
NEW YORK, NY / ACCESSWIRE / Aug 30, 2021 / Bernstein Liebhard, a nationally recognized investor rights law firm, is reminding investors of the deadline to file a lead plaintiff in a securities class action filed on behalf of investors who have bought or acquired the securities of PayPal Holdings, Inc. (“PayPal” or the ” Enterprise “) (NASDAQ: PYPL) from February 9, 2017 to July 28, 2021 (the” Class Period “). The lawsuit filed in the United States District Court for the Northern District of California alleges violations of the Securities Exchange Act of 1934.
if you Have purchased PayPal securities and / or wish to discuss your legal rights and options Please visit the class action lawsuit against PayPal shareholders or contact Rujul Patel toll-free at (877) 779-1414 or [email protected]
The lawsuit alleges that during the class action period, defendants made false and misleading information and failed to disclose: (i) PayPal had poor disclosure controls and procedures; (ii) as a result, PayPal had inadequate disclosure controls and procedures; (iii) PayPal’s practices in relation to the payment of interbank rates in relation to its debit cards were also inconsistent with applicable laws and / or regulations; (iv) accordingly, PayPal’s revenues from its PayPal credit and debit card practices have been in some cases inadequate and thus unsustainable; (v) all of which puts the company at increased risk of regulatory investigations and enforcement; and (v) as a result, the Company’s public statements at all relevant times have been materially false and misleading.
On July 29, 2021, PayPal filed a quarterly report on Form 10-Q with the US Securities and Exchange Commission, disclosing the company’s financial and operating results for the second quarter of 2021 investigations by the SEC and the CFPB. PayPal announced that it had received a request from the CFPB to investigate the “marketing and use of PayPal credits in connection with certain merchants offering educational services”; and that the company “has responded to subpoenas and requests for information made by the [SEC] in relation to whether the interbank rates paid to banks that issue debit cards with our licensed brands were in compliance with Regulation II of the Board of Governors of the Federal Reserve System; and in relation to reporting on marketing fees resulting from the branded card program of the Company originate. “
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Following the news, PayPal’s share price fell $ 18.81 per share, or 6.23%, to close at $ 283.17 per share on July 29, 2021.
If you want to appear as the lead plaintiff, you have to go to court no later than
October 19, 2021. A lead plaintiff is a representative party who acts on behalf of other class members in directing the dispute. Your ability to partake in a recovery does not require you to be the lead plaintiff. If you do nothing, you can remain an absent class member.
if you Have purchased securities from PayPal Holdings and / or wish to discuss your legal rights and options please visit https://www.bernlieb.com/cases/paypalgroupholdings-pypl-shareholder-class-action-lawsuit-fraud-stock-432/apply/ or contact Rujul Patel toll-free at (877) 779-1414 or [email protected]
Since 1993, Bernstein Liebhard LLP has recovered over $ 3.5 billion for its clients. In addition to representing individual investors, the firm has been hired by some of the country’s largest public and private pension funds to oversee their assets and litigate on their behalf. As a result of its success in hundreds of legal and class action lawsuits, the firm has been listed on the National Law Journal’s “Plaintiffs’ Hot List” thirteen times and on The Legal 500 for ten consecutive years.
ADVERTISING LAWYER. © 2021 Bernstein Liebhard LLP. The firm responsible for this notification is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The attorney responsible for this complaint in the Connecticut state is Michael S. Bigin. Past results do not guarantee or predict a similar result with respect to future matters.
Bernstein Liebhard LLP
SOURCE: Bernstein Liebhard LLP
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