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February 27 Deadline Alert: Law Offices of Howard G. Smith Reminds PayPal Holdings, Inc. Investors of Upcoming Lead Plaintiff Deadline and Encourages Investors to Contact the Firm
[January 20, 2017]

February 27 Deadline Alert: Law Offices of Howard G. Smith Reminds PayPal Holdings, Inc. Investors of Upcoming Lead Plaintiff Deadline and Encourages Investors to Contact the Firm


Law Offices of Howard G. Smith reminds investors of the upcoming February 27, 2017 deadline to file a lead plaintiff motion in the class action filed against PayPal (News - Alert) Holdings, Inc. ("PayPal" or the "Company") (Nasdaq:PYPL), and PayPal's former parent company, eBay (News - Alert), Inc. ("eBay") (Nasdaq: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 2, 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.



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 PayPal and/or eBay shares, you may move the Court no later than February 27, 2017 to request appointment as lead plaintiff. 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 [email protected], 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.


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