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NEW YORK, Jan. 24, 2018 -- The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of investors who purchased PayPal Holdings, Inc. ("PayPal") (NASDAQ:PYPL) securities between February 14, 2017 and December 1, 2017.
Click here to learn about the case: http://www.wongesq.com/pslra-sb/paypal-holdings-inc-2?wire=3. There is no cost or obligation to you.
According to the complaint, throughout the Class Period, the Company issued materially false and misleading statements and/or failed to disclose that: (1) TIO's data security program was inadequate to safeguard the personally identifiable information of its users; (2) the vulnerabilities threatened continued operation of TIO's platform; (3) PayPal’s revenues derived from its TIO services were thus unsustainable; (4) consequently, PayPal had overstated the benefits of the TIO Acquisition; and (5) as a result, PayPal’s public statements were materially false and misleading at all relevant times. On November 10, 2017, PayPal suspended its TIO services, pending a security review, stating that it had discovered security vulnerabilities on the TIO platform and that the TIO data security program did not meet PayPal’s standards. Then on December 1, 2017, PayPal disclosed that personal information for roughly 1.6 million TIO users had potentially been compromised as a result of the previously announced security vulnerabilities.
If you suffered a loss in PayPal you have until February 5, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff. To obtain additional information, contact Vincent Wong, Esq. either via email [email protected], by telephone at 212.425.1140, or visit http://www.wongesq.com/pslra-sb/paypal-holdings-inc-2?wire=3.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
Fax. 866.699.3880
E-Mail: [email protected]
