An investigation on behalf of investors in NASDAQ:PYPL shares over potential wrongdoing at Paypal Holdings Inc was announced and NASDAQ:PYPL stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 07/20/2016 -- An investigation on behalf of current long-term investors in shares of Paypal Holdings Inc (NASDAQ:PYPL) was announced over potential breaches of fiduciary duties by certain officers and directors at Paypal Holdings.
Investors who purchased shares of Paypal Holdings Inc (NASDAQ:PYPL) and currently hold any of those NASDAQ:PYPL shares have certain options and should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
The investigation by a law firm concerns whether certain Paypal Holdings Inc (NASDAQ:PYPL officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
On April 28, 2016, Paypal Holdings Inc reported its financial results or the quarter ended on March 31, 2016. Among other things, Paypal Holdings Inc disclosed that it received a Civil Investigative Demand ("CID") from the Federal Trade Commission ("FTC") as part of its investigation to determine whether Paypal Holdings Inc, through its Venmo service, have been or are engaged in deceptive or unfair practices in violation of the Federal Trade Commission Act. Paypal Holdings Inc said that the CID requests the production of documents and answers to written questions related to its Venmo servicem and that the CID could lead to an enforcement action and/or one or more consent orders, which may result in substantial costs, including legal fees, fines, penalties, and remediation expenses and actions, and could require Paypal Holdings Inc to change aspects of the manner in which it operates Venmo.
Shares of Paypal Holdings Inc (NASDAQ:PYPL) closed on July 19, 2016 at $39.37 per share.
Those who purchased shares of Paypal Holdings Inc have certain options and should contact the Shareholders Foundation.
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