PayPal Holdings, Inc. is an American multinational financial technology company that operates an online payments system.

According to the law firm press release, the Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) PayPal’s Venmo service was engaged in unfair trade practices; (ii) the foregoing facts, when they became known, were likely to subject the Company to increased regulatory scrutiny and/or affect the profitability of PayPal’s Venmo service; and (iii) as a result of the foregoing, PayPal’s public statements were materially false and misleading at all relevant times.

An amended Complaint was filed on May 11, 2017.

This case was voluntarily dismissed on June 1, 2017.