NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have only until October 19, 2021 to file lead plaintiff applications in a securities class action lawsuit against PayPal Holdings, Inc. (NasdaqGS: PYPL), if they purchased the Company’s securities between February 9, 2017 and July 28, 2021, inclusive (the “Class Period”). This action is pending in the United States District Court for the Northern District of California.
What You May Do
If you purchased securities of PayPal and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (firstname.lastname@example.org), or visit https://www.ksfcounsel.com/cases/nasdaqgs-pypl/ to learn more. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by October 19, 2021.
About the Lawsuit
PayPal and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On July 29, 2021, the Company disclosed receipt of a Civil Investigative Demand from the Consumer Financial Protection Bureau related “to the marketing and use of PayPal Credit in connection with certain merchants that provide educational services.” Further, the Company revealed that it had “responded to subpoenas and requests for information received from the [Securities and Exchange Commission] 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.”
On this news, shares of PayPal plummeted $18.81 per share, or 6.23%, to close at $283.17 per share on July 29, 2021.
The case is Kang v. PayPal Holdings, Inc., et al, 21-cv-06468.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.