On or around 12/02/2020 (Date of last review)
Filing Date: March 19, 2020
According to the Complaint, Paysign, Inc. purports to provide prepaid card programs and processing services under the PaySign brand to corporations, government agencies, universities, and other organizations. The Company changed its name from 3PEA International Inc. to Paysign, Inc. on April 23, 2019.
The Complaint alleges that Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Paysign’s internal control over financial reporting was not effective; (2) Paysign’s information technology general controls were not effective; and (3) 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.
On December 2, 2020, the Court issued an Order consolidating cases.
Company & Securities Information
Defendant: Paysign, Inc.
Industry: Business Services
Headquarters: United States
Ticker Symbol: PAYS
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
Yilan Shi, et al. v. Paysign, Inc., et al.
COURT: D. Nevada
DOCKET #: 20-CV-00553
JUDGE: Hon. Gloria M. Navarro
DATE FILED: 03/19/2020
CLASS PERIOD START: 03/12/2019
CLASS PERIOD END: 03/15/2020
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Leverty & Associates, Chtd.
The Rosen Law Firm, P.A. (NY)
First Identified Complaint (FIC) Filings:
Class Action Complaint for Violations of the Federal Securities Laws
U.S. District Court Civil Docket
—Reference Complaint Complaint Related Data is not available
Related District Court Filings
—Related District Court Filings Data is not available