LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of PayPal Holdings, Inc. (“PayPal” or “the Company”) (NASDAQ: PYPL) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. PayPal filed a quarterly report on Form 10-Q with the SEC for the second quarter of 2021 on July 29, 2021. The Company’s 10-Q disclosed investigations by both the SEC and the Consumer Financial Protection Bureau (“CFPB”). The Company stated that it “has responded to subpoenas and requests for information received from the [SEC] relating to whether the interchange rates paid to the bank that issues debit cards bearing our licensed brands were consistent with Regulation II of the Board of Governors of the Federal Reserve System, and to the reporting of marketing fees earned from the Company’s branded card program.” The Company also disclosed Civil Investigative Demands (“CIDs”) from the CFPB “related to Venmo’s unauthorized funds transfers and collections processes, and related matters” and “to the marketing and use of PayPal Credit in connection with certain merchants that provide educational services.” Based on this news, shares of PayPal fell in the next few trading sessions, harming investors.
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We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at email@example.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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