Recent Security Class Actions

PayPal Holdings Inc. Common Stock (NASDAQ: PYPL)

Company Name:PayPal Holdings Inc. Common Stock
Stock Symbol:NASDAQ: PYPL
Class Period Start:02/03/2021
Class Period End (inclusive):02/01/2022
Filing Deadline:12/05/2022

The Complaint alleges Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:(1) Defendants had inflated its vitally important NNA 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; (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.