SAN DIEGO, Oct. 24, 2021 (GLOBE NEWSWIRE) -- Johnson Fistel, LLP is investigating potential claims on behalf of PayPal Holdings, Inc. ("PayPal" or the "Company") (NASDAQ: PYPL) against certain of its officers and directors.
Recently a class action lawsuit was filed in federal court against the Company on behalf of purchasers of the securities of PayPal from February 9, 2017 and July 28, 2021 (the "Class Period").
The complaint alleges that, throughout the Class Period, Defendants made false and misleading statements and failed to disclose that: (i) PayPal had deficient disclosure controls and procedures; (ii) as a result, PayPal had deficient disclosure controls and procedures; (iii) PayPal's practices regarding payment of interchange rates related to its debit cards were likewise non-compliant with applicable laws and regulations; (iv) accordingly, PayPal's revenues derived from its PayPal Credit and debit card practices were in part the subject of improper conduct and thus unsustainable; (v) all the foregoing the Company to an increased risk of regulatory investigation and enforcement; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.
If you are a current, long-term shareholder of PayPal holding shares before February 9, 2017, you may have standing to hold PayPal harmless from the alleged harm caused by the officers and directors of the Company by making them personally responsible. You may also be able to assist in reforming the Company's corporate governance to prevent future wrongdoing.
If you are interested in learning more about the investigation, please contact lead analyst Jim Baker (firstname.lastname@example.org) at 619-814-4471. If emailing, please include a phone number.
Additionally, if you are a current, long-term shareholder of PayPal, holding shares before February 9, 2017, you can [Click here to join this action]. There is no cost or obligation to you.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson Fistel, LLP
Jim Baker, 619-814-4471