NEW ORLEANS, October 28, 2022 /PRNewswire/ — Kahn Swick & Foti, LLC (“KSF”) and KSF Associates, former Attorney General of Louisiana, Charles C. Foti, Jr.remind investors that they have up December 5, 2022 Lead Plaintiff’s Motions in a Securities Class Action Against PayPal Holdings, Inc. PYPLif they bought the shares of the company between February 3, 2021 and February 1, 2022, inclusive (the “Class Period”). This action is pending in The United States district court New Jersey.
What you can do
If you have purchased stock from PayPal and would like to discuss your legal rights and how this case may affect you and your right to compensation for your economic loss, you can contact KSF Managing Partner Lewis Kahn toll-free, without obligation and at no cost to you, at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-pypl/ to learn more. If you wish to be a lead plaintiff in this class action lawsuit, you must file a petition with the court December 5, 2022.
About the lawsuit
PayPal and certain of its executives are accused of failing to disclose material information during the class action period in violation of federal securities laws.
On February 1, 2022the company announced that its net number of new active accounts (“NNAs”) for 2021 was just 49 million, down from the originally stated forecast of 50 million February 2021 and lower than the raised forecast it had reiterated just months earlier that it had identified 4.5 million accounts believed to be illegitimately created and that it would consequently shift focus to increasing active user engagement , rather than incentivize opening cash accounts, which would reduce its ability to sustain growth in its NNAs.
PayPal’s shares plummeted on the news $43.23 per share, or about 25%, from a closing price of $175.80 per share February 1, 2022 close $132.57 per share February 2, 2022.
The case is Mid-Jersey Achievement Plan
