NEW YORK, Dec. 2, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of PayPal Holdings, Inc. (NASDAQ: PYPL).

To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/paypal-holdings-inc-loss-submission-form/?id=34194&from=4

This lawsuit is on behalf of all persons or entities who purchased PayPal common stock between February 3, 2021, and February 1, 2022, inclusive.

Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until December 5, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

According to a filed complaint, PayPal Holdings, Inc. issued materially 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 an usually large use of marketing campaigns that were easily 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.

Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887

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SOURCE Jakubowitz Law

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