An investigation for investors in PayPal Holdings, Inc. (NASDAQ: PYPL) shares over potential securities laws violations by PayPal Holdings, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 08/20/2021 -- PayPal Holdings, Inc is under investigation over potential securities laws violations in connection with certain financial statements.
Investors who purchased shares of PayPal Holdings, Inc. (NASDAQ: PYPL), have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by PayPal Holdings, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
San Jose, CA based PayPal Holdings, Inc. operates as a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants worldwide. On July 29, 2021, PayPal Holdings, Inc. filed its quarterly report on Form 10-Q with the U.S. Securities and Exchange Commission ("SEC"), for the second quarter of 2021 in which, among other things, the Company disclosed investigations by both the SEC and the Consumer Financial Protection Bureau ("CFPB"). PayPal stated that it "has responded to subpoenas and requests for information received from the [SEC] relating to whether the interchange rates paid to the bank that issues debit cards bearing our licensed brands were consistent with Regulation II of the Board of Governors of the Federal Reserve System, and to the reporting of marketing fees earned from the Company's branded card program." PayPal also disclosed receipt of Civil Investigative Demands ("CIDs") from the CFPB "related to Venmo's unauthorized funds transfers and collections processes, and related matters" and "to the marketing and use of PayPal Credit in connection with certain merchants that provide educational services."
Those who purchased shares of PayPal Holdings, Inc. (NASDAQ: PYPL) have certain options and should contact the Shareholders Foundation.
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