On or around 06/01/2017 (Notice of voluntarily dismissal)
Filing Date: December 28, 2016
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.
Company & Securities Information
Defendant: PayPal Holdings, Inc.
Industry: Misc. Financial Services
Headquarters: United States
Ticker Symbol: PYPL
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Sheck Kwai Cho, et al. v. PayPal Holdings, Inc., et al.