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PAYPAL INVESTIGATION: Block & Leviton Investigates PayPal Holdings, Inc. For Potential Securities Law Violations; Investors Who Have Lost Money Are Encouraged to Contact the Firm

Block & Leviton LLP
·2 min read

BOSTON, Aug. 04, 2021 (GLOBE NEWSWIRE) -- Block & Leviton is investigating PayPal Holdings, Inc. (NASDAQ: PYPL) for potential securities law violations. Investors who have lost money in their PayPal investment should contact the firm to learn more about how they might recover those losses. For more details, visit https://www.blockleviton.com/cases/pypl.

What is this all about?

On July 29, 2021, PayPal filed a quarterly report on Form 10-Q with the U.S. Securities and Exchange Commission ("SEC"), for the second quarter of 2021 in which the Company disclosed investigations by both the SEC and the Consumer Financial Protection Bureau ("CFPB"). PayPal “has responded to subpoenas and requests for information received from the [SEC] relating to whether the interchange rates paid to the bank that issues debit cards bearing our licensed brands were consistent with Regulation II of the Board of Governors of the Federal Reserve System, and to the reporting of marketing fees earned from the Company's branded card program." PayPal also disclosed receipt of Civil Investigative Demands from the CFPB "related to Venmo's unauthorized funds transfers and collections processes, and related matters" and "to the marketing and use of PayPal Credit in connection with certain merchants that provide educational services."

On this news, PayPal's stock price fell $18.81 per share, or 6.23%, to close at $283.17per share on July 29, 2021.

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Who is eligible?

Anyone who purchased PayPal Holdings Inc. shares and has lost money as a result of this news may be eligible, whether or not they have sold their investment. Investors should contact Block & Leviton to learn more.

What is Block & Leviton doing?

Block & Leviton is investigating whether the Company committed securities law violations and may file an action to attempt to recover losses on behalf of investors who have lost money.

What should you do next?

If you've lost money on your investment, you should contact Block & Leviton to learn more via our case website, by email at cases@blockleviton.com, or by phone at (617) 398-5600.

Why should you contact Block & Leviton?

Many law firms have issued releases about this matter; most of those firms do not actually litigate securities class actions. Block & Leviton is a law firm that actually litigates cases. We are dedicated to obtaining significant recoveries on behalf of defrauded investors through active litigation in the federal courts across the country. Many of the nation's top institutional investors hire us to represent their interests. You can learn more about us at our website, www.blockleviton.com, or call (617) 398-5600 or email cases@blockleviton.com with any questions.

This notice may constitute attorney advertising.