NEW YORK, Dec. 5, 2017 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of PayPal Holdings, Inc. ("PayPal" or the "Company") (NASDAQ: PYPL). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/pypl.
The investigation concerns whether PayPal and certain of its officers and/or directors have violated Sections federal securities laws.
On July 18, 2017, PayPal announced that it had completed its acquisition of TIO Networks ("TIO"), a multi-channel bill processor. On November 10, 2017, PayPal suspended its TIO services, pending a security review, stating that it had discovered security vulnerabilities on the TIO platform and that the TIO data security program did not meet PayPal's standards. On December 1, 2017, post-market, PayPal disclosed that personally identifiable information—including names, addresses, bank-account details, and Social Security numbers—for roughly 1.6 million TIO users had potentially been compromised as a result of the previously announced security vulnerabilities. Following this news, PayPal stock dropped $4.33 per share, or 5.75%, to close at $70.97 on December 4, 2017.
If you are aware of any facts relating to this investigation, or purchased shares of PayPal, you can assist this investigation by visiting the firm's site: www.bgandg.com/pypl. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
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