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Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until October 19, 2021 to file lead plaintiff applications in a securities class action lawsuit against PayPal Holdings, Inc. (NasdaqGS: PYPL).
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.
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 (email@example.com), or fill out the form on this page.
The case is Kang v. PayPal Holdings, Inc., et al, No. 21-cv-06468.
Click here to read the first filed complaint.