SAN FRANCISCO, Sept. 19, 2019 /PRNewswire/ -- Hagens Berman notifies Paysign, Inc. (NASDAQ: PAYS) investors of the firm's investigation of possible violations of federal securities laws.
Paysign (PAYS) Investigation:
The investigation centers on whether Paysign misrepresented and concealed serious problems in the onboarding of new plasma industry programs.
Paysign and senior management have consistently promoted the Company's integration of new plasma industry programs into its existing network, noting it was a "success" and "we're continuing to grow in absolute dollars as well as in market share." But on September 9, 2019, Paysign shocked investors when it dramatically cut fiscal year 2019 revenue guidance, blaming the negative forecast on delays with onboarding new plasma industry programs during the first half of 2019.
"We're focused on investors' losses and whether the Company misled investors about its onboarding of new plasma industry programs," said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Paysign should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email PAYS@hbsslaw.com.
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Reed Kathrein, 510-725-3000
SOURCE Hagens Berman Sobol Shapiro LLP