NEW YORK, Dec. 5, 2017 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against PayPal Holdings, Inc. ("PayPal" or the "Company") (NASDAQ: PYPL).
During post-market hours on December 1, 2017, PayPal revealed that, due to security vulnerabilities in its TIO Networks ("TIO") unit, personally identifiable information of approximately 1.6 million TIO users may have been potentially compromised. The Company acquired TIO, a multi-channel bill processor, on July 18, 2017 for $238 million. PayPal announced that it has suspended operations of its TIO network while it conducts its investigation.
On this news, PayPal's share price fell from $75.30 per share on December 1, 2017 to a closing price of $70.97 on December 4, 2017—a $4.33 or a 5.75% drop.
If you invested in PayPal stock or options and would like to discuss your legal rights, click here: www.faruqilaw.com/PYPL. There is no cost or obligation to you.
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