Offices of Howard G. Smith announces that a class action lawsuit has
been filed against PayPal Holdings, Inc. (“PayPal” or the “Company”) (PYPL),
and PayPal’s former parent company, eBay, Inc. (“eBay”) (EBAY),
on behalf of investors who: 1) purchased or otherwise acquired eBay
securities on the open market on or after December 19, 2013 (the “eBay
Class Period”) and subsequently received PayPal securities pursuant to
eBay’s spin-off of PayPal, effective as of July 17, 2015; and/or 2)
purchased or otherwise acquired PayPal securities on the open market
between July 20, 2015 and April 28, 2016, inclusive (the “PayPal
Class Period” and, together with the eBay Class Period, the “Class
Period”). PayPal investors have until February 27, 2017 to
file a lead plaintiff motion.
Investors suffering losses on their PayPal and/or eBay investments are
encouraged to contact the Law Offices of Howard G. Smith to discuss
their legal rights in this class action at 888-638-4847 or by email to email@example.com.
On April 28, 2016, post-market, PayPal announced that it had received a
civil investigative demand on March 28, 2016 from the Federal Trade
Commission as part of an investigation to determine whether the Company,
through its Venmo service, has engaged in deceptive or unfair practices
in violation of the Federal Trade Commission Act.
On this news, PayPal stock fell $0.89 per share to close at $39.18 on
April 29, 2016, thereby injuring investors.
The Complaint filed in this class action alleges that during the Class
Period, Defendants made materially false and/or misleading statements,
as well as failed to disclose material adverse facts about its business,
operations, and prospects. Specifically, Defendants made false and/or
misleading statements and/or failed to disclose that: 1) PayPal's Venmo
service was allegedly participating in unfair trade practices; 2) the
announcement of the above allegations was likely to affect PayPal's
profit on its Venmo service and/or 3) PayPal's public statements were
materially false and misleading at all relevant times.
If you purchased shares of PayPal and/or eBay during the Class Period
you may move the Court no later than February 27, 2017 to
ask the Court to appoint you as lead plaintiff if you meet certain legal
requirements. To be a member of the Class you need not take any action
at this time; you may retain counsel of your choice or take no action
and remain an absent member of the Class. If you wish to learn
more about this action, or if you have any questions concerning this
announcement or your rights or interests with respect to these matters,
please contact Howard G. Smith, Esquire, of Law Offices of Howard G.
Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by
telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org,
or visit our website at http://www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170119005489/en/