Levi & Korsinsky, LLP announces that a PYPL class action lawsuit has been filed on behalf of investors who purchased PayPal Holdings, Inc (PYPL) securities between February 3, 2021, and February 1, 2022. For more on the PYPL Lawsuit please contact us today.
According to the PayPal Holdings lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) defendants had inflated the Company’s vitally important Net New Active Accounts metric guidance through a usually large use of marketing campaigns that were quickly 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.
If you suffered a loss in PayPal Holdings 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.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Fax: (212) 363-7171