An investigation for investors in NASDAQ:PYPL shares was announced over potential breaches of fiduciary duties by certain directors at Paypal Holdings.
Investors who purchased shares of Paypal Holdings Inc (NASDAQ:PYPL) and currently hold any of those NASDAQ:PYPL shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain Paypal Holdings directors breached their fiduciary duties and caused damage to the company and its shareholders.
On April 28, 2016, Paypal Holdings Inc reported its financial results or the quarter ended on March 31, 2016. Among other things, Paypal Holdings Inc disclosed that it received a Civil Investigative Demand (“CID”) from the Federal Trade Commission (“FTC”) as part of its investigation to determine whether Paypal Holdings Inc, through its Venmo service, have been or are engaged in deceptive or unfair practices in violation of the Federal Trade Commission Act. Paypal Holdings Inc said that the CID requests the production of documents and answers to written questions related to its Venmo servicem and that the CID could lead to an enforcement action and/or one or more consent orders, which may result in substantial costs, including legal fees, fines, penalties, and remediation expenses and actions, and could require Paypal Holdings Inc to change aspects of the manner in which it operates Venmo.
Shares of Paypal Holdings Inc (NASDAQ:PYPL) closed on July 25, 2016 at $37.78 per share.
Those who purchased NASDAQ:PYPL shares have certain options and should contact the Shareholders Foundation.
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