In re PayPal Holdings, Inc. Securities Litigation

On February 15, 2023, Labaton Keller Sucharow was appointed co-lead counsel in a securities class action against PayPal Holdings, Inc. (PayPal).  The action alleges that during the class period PayPal touted the massive growth in new active accounts as one of the most important indicators of the company's performance while failing to disclose that many of the additional users acquired through its cash account creation incentive campaigns were illusory, because those incentive campaigns were easily susceptible to fraud and ultimately generated no future revenue for the company.

The case is In re PayPal Holdings, Inc. Securities Litigation., et al, No. 3:22-cv-05864, in the U.S. District Court for the District of New Jersey.  Labaton Keller Sucharow represents lead plaintiff Caisse de Depot et placement du Quebec.