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Levi & Korsinsky announces the commencement of a class action lawsuit in the USDC for the Northern District of California on behalf of all persons or entities who (1) purchased or otherwise acquired eBay, Inc. (NASDAQ: EBAY) securities on the open market on or after December 19, 2013 and subsequently received PayPal Holdings, Inc. (NASDAQ: PYPL) securities 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 between July 20, 2015 and April 28, 2016.
The complaint alleges that during the class period PayPal failed to disclose that its Venmo service was engaged in unfair trade practices, which were likely to subject the Company to increased regulatory scrutiny and/or affect the profitability of PayPal’s Venmo service.
On March 28, 2016, PayPal received a civil investigative demand from the Federal Trade Commission, seeking documents related to Venmo’s potential unfair trade practices.
If you suffered a loss in PayPal you have until February 27, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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