A Deadline is coming up on February 5, 2018 in the lawsuit for investors in Paypal Holdings Inc (NASDAQ:PYPL) and NASDAQ:PYPL stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 02/05/2018 -- A deadline is coming up on February 5, 2018 in the lawsuit filed for investors of Paypal Holdings Inc (NASDAQ:PYPL) over alleged securities laws violations by Paypal Holdings Inc.
Investors who purchased shares of Paypal Holdings Inc (NASDAQ:PYPL) have certain options and there are strict and short deadlines running. Deadline: February 5, 2018. NASDAQ:PYPL stockholders should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
On February 14, 2017, Paypal Holdings Inc announced an agreement to purchase TIO Networks Corp. for $233 million. TIO Networks Corp is a bill-pay management company that processed roughly $7 billion in bill payments on behalf of 14 million customers in 2016. On July 18, 2017, Paypal Holdings Inc announced the completion of the acquisition of TIO Networks Corp.
The plaintiff claims that between February 14, 2017 and December 1, 2017, the Defendants made false and/or misleading statements and/or failed to disclose that TIO Networks Corp's data security program was inadequate to safeguard the personally identifiable information of its users, that the foregoing vulnerabilities threatened continued operation of TIO Networks Corp.'s platform, that PayPal's revenues derived from its TIO Networks Corp. services were thus unsustainable, that consequently, PayPal had overstated the benefits of the Acquisition of TIO Networks Corp., and that as a result, Paypal Holdings Inc's public statements were materially false and misleading at all relevant times
On December 1, 2017, after the market closed, Paypal Holdings Inc (NASDAQ:PYPL) disclosed that personally identifiable information for approximately 1.6 million customers of TIO Networks, a payment processor PayPal acquired in July 2017, had potentially been compromised as a result of previously announced security vulnerabilities.
Those who purchased shares of Paypal Holdings Inc (NASDAQ:PYPL) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
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