The Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of PayPal Holdings, Inc.
Investors and Encourages Investors to Contact the Firm
Law Offices of Howard G. Smith announces that a class action lawsuit has been filed against PayPal
Holdings, Inc. (“PayPal” or the “Company”) (PYPL), and PayPal’s former parent company, eBay, Inc. (“eBay”) (EBAY), on behalf of investors who: 1) purchased or otherwise acquired eBay securities on the open market on or
after December 19, 2013 (the “eBay Class Period”) and subsequently received PayPal 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, inclusive (the “PayPal Class Period” and, together with the eBay Class Period, the “Class
Period”). PayPal investors have until February 27, 2017 to file a lead plaintiff motion.
Investors suffering losses on their PayPal and/or eBay investments are encouraged to contact the Law Offices of Howard G. Smith
to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
On April 28, 2016, post-market, PayPal announced that it had received a civil investigative demand on March 28, 2016 from the
Federal Trade Commission as part of an investigation to determine whether the Company, through its Venmo service, has engaged in
deceptive or unfair practices in violation of the Federal Trade Commission Act.
On this news, PayPal stock fell $0.89 per share to close at $39.18 on April 29, 2016, thereby injuring investors.
The Complaint filed in this class action alleges that during the Class Period, Defendants made materially false and/or
misleading statements, as well as failed to disclose material adverse facts about its business, operations, and prospects.
Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: 1) PayPal's Venmo service was
allegedly participating in unfair trade practices; 2) the announcement of the above allegations was likely to affect PayPal's
profit on its Venmo service and/or 3) PayPal's public statements were materially false and misleading at all relevant times.
If you purchased shares of PayPal and/or eBay during the Class Period you may move the Court no later than February 27,
2017 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class
you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of
the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your
rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070
Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email
to howardsmith@howardsmithlaw.com, or visit our website at
http://www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
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