Paycom Software, Inc. Class Action Lawsuit - PAYC

The filed complaint alleges that Paycom Software, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) Paycom’s Beti product led to cannibalization of the Company’s services and revenues; (2) Paycom knew but failed to disclose that Beti was leading to cannibalization of the Company’s services and revenues, and failed to warn of cannibalization as a general risk; (3) as a result of cannibalization of revenue, Paycom missed its expected 3Q23 revenue and would have to revise its expected 2023 Revenues; (4) the cannibalization issue resulted in projected 2024 year-over-year revenue growth to between 10% and 12%, well below expectations; and (5) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

In order to be eligible to join the PAYC class action lawsuit, you must have incurred a loss on shares of Paycom purchased during the class period listed above.

If you suffered a loss in Paycom during the relevant time frame, you have until January 9, 2024 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.