NEW YORK, Nov. 02, 2022 (GLOBE NEWSWIRE) — Attorney Advertising — Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against PayPal Holdings, Inc. (“PayPal” or the “Company”) (NASDAQ: PYPL) and certain of its officers on behalf of all persons and entities that purchased or otherwise acquired PayPal securities between February 3, 2021 and February 1, 2022, both dates inclusive (the “Collection Period”). Such investors are encouraged to join this case by visiting the company’s website: www.bgandg.com/pypl.

This class action seeks damages against the defendants for alleged violations of the Securities Exchange Act of 1934 (the “Exchange Act”).

The lawsuit alleges that throughout the class period, the defendants made materially false and/or misleading statements and failed to disclose material adverse factors about the Company’s business and operations — specifically, the Company’s increasing reliance on cash incentive campaigns to open an account, which would a flood of illegitimate PayPal accounts that would inflate PayPal’s numbers but would not generate any revenue for the company. Specifically, the Defendants misled investors and/or failed to disclose the following: (1) the Defendants had inflated their vital NNA metric through a normally extensive deployment of marketing campaigns that were easily susceptible to fraud (2) the Defendants used those marketing campaigns and other incentives to hide the company’s actual churn rate and declining engagement with the platform; (3) As a result, Defendants’ positive statements about the Company’s business, operations and prospects were materially false and misleading and/or lacking any reasonable basis at all relevant times.

A class action lawsuit has already been filed. If you would like to see a copy of the complaint, you can visit the firm’s website: www.bgandg.com/pypl or contact Peretz Bronstein, Esq. or his legal trainee and client relations manager Yael…