On April 28, 2016, post-market, PayPal disclosed receipt of a civil investigative demand on March 28, 2016 from the Federal Trade Commission, seeking documents related to the Company's Venmo peer-to-peer payment service in connection with potential unfair trade practices.
On this news, PayPal's share price fell $0.89, or 2.22%, to close at $39.18 on April 29, 2016.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/shareholder-alert-pomerantz-law-firm-investigates-claims-on-behalf-of-investors-of-paypal-holdings-inc---pypl-300383203.html
SOURCE Pomerantz LLP