NEW YORK, April 28, 2016 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of PayPal Holdings Inc. ("PayPal" or the "Company") (NASDAQ: PYPL). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 237.
The investigation concerns whether PayPal and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
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 stock has fallen $0.22, or 0.55%, in after-hours trading on April 28, 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
SOURCE Pomerantz LLP