NEW YORK--(BUSINESS WIRE)--
Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of all persons or entities who: (1) purchased or otherwise acquired eBay, Inc. securities (NASDAQ: EBAY) on the open market on or after December 19, 2013 (the “eBay Class Period”) and subsequently received PayPal Holdings, Inc. securities (NASDAQ:PYPL) 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 from July 20, 2015 through April 28, 2016, both dates inclusive (the “PayPal Class Period” and, together with the eBay Class Period, the “Class Period”). The lawsuit seeks to recover damages for PayPal investors under the federal securities laws.
To join the PayPal class action, go to http://www.rosenlegal.com/cases-1024.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, throughout the Class Period Defendants made false and/or misleading statements and/or failed to disclose that: (1) PayPal's Venmo service was involved in unfair trade practices; (2) once the above facts were made public, it was likely to impact PayPal’s profitability of its Venmo service and increase regulatory scrutiny; and/or (3) consequently, PayPal's public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than February 27, 2017. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-1024.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or via email at [email protected] or [email protected].
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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