NEW YORK, Oct. 20, 2022 /PRNewswire/ — Levi & Korsinsky, LLP notifies investors in PayPal Holdings, Inc. (“PayPal” or the “Company”) (NASDAQ: PYPL) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of PayPal investors who were adversely affected by alleged securities fraud. This lawsuit is on behalf of all persons or entities who purchased PayPal common stock between February 3, 2021, and February 1, 2022, inclusive. Follow the link below to get more information and be contacted by a member of our team:
https://www.zlk.com/pslra-1/paypal-lawsuit-loss-submission-form?prid=32743&wire=4
PYPL investors may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (1) defendants had inflated the Company’s vitally important Net New Active Accounts metric guidance through an usually large use of marketing campaigns that were easily susceptible to fraud; i.e. the creation of millions of illegitimate accounts which were created for the sole purpose of taking advantage of cash incentives for account creation; (2) defendants used these marketing campaigns and other incentives to hide the Company’s true churn rate and declining levels of engagement with the platform; and (3) as a result, defendants’ positive statements about the Company’s business, operations, and prospects were materially false and misleading and /or lacked a reasonable basis at all relevant times.
WHAT’S NEXT? If you suffered a loss in PayPal during the relevant time frame, you have until December 5, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
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SOURCE Levi & Korsinsky, LLP
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