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.
To receive updates on the lawsuit, fill out the
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.
1140 Avenue of the Americas
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
SOURCE Jakubowitz Law