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PayPal Holdings, Inc. (PYPL)

Class Action & Deadline: December 2, 2022

Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against PayPal Holdings, Inc. (“PayPal” or the “Company”) (NASDAQ: PYPL) and certain of its officers, on behalf of all persons and entities that purchased, or otherwise acquired PayPal securities between February 3, 2021 and February 1, 2022, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case.

This class action seeks to recover damages against Defendants for alleged violations of the Securities Exchange Act of 1934 (the “Exchange Act”).

 

The Complaint alleges that throughout the Class Period, the defendants made materially false and/or misleading statements and failed to disclose material adverse factors about the Company's business, operations---specifically the Company's increased reliance on cash incentive campaigns for account creation that invited a deluge of illegitimate PayPal accounts that would boost PayPal's numbers but would generate no revenue for the Company. Specifically, defendants misled investors and/or failed to disclose that: (1) defendants had inflated its vitally important NNA metric guidance through an usually large use of marketing campaigns that were easily susceptible to fraud (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; (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.

 

A class action lawsuit has already been filed. You can review a copy of the Complaint and sign the certification form or contact Peretz Bronstein, Esq. or his Law Clerk and Client Relations Manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in PayPal you have until December 2, 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.

 

Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits.  The firm has recovered hundreds of millions of dollars for investors nationwide.  Attorney advertising. Prior results do not guarantee similar outcomes.

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