According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:
- PayPal had deficient disclosure controls and procedures;
- as a result, PayPal’s business practices with respect to PayPal Credit remained non-compliant with applicable laws and/or regulations;
- PayPal’s practices regarding payment of interchange rates related to its debit cards were likewise non-compliant with applicable laws and/or regulations;
- accordingly, PayPal’s revenues derived from its PayPal Credit and debit card practices were in part the subject of improper conduct and thus unsustainable;
- all the foregoing subjected the Company to an increased risk of regulatory investigation and enforcement; and
- as a result, the Company’s public statements were materially false and misleading at all relevant times.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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