NEW YORK, Nov. 07, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of PayPal Holdings, Inc. (“PayPal” or the “Company”) (NASDAQ: PYPL). Those investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, extension 7980.

The investigation concerns whether PayPal and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.

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On February 1, 2022, PayPal reported disappointing fourth quarter and full year 2021 results. Specifically, PayPal reported that its net new active accounts for 2021 were just 49 million, down from the 50 million guidance originally provided in February 2021. [it] ‘Identified 4.5 million accounts that it ‘believes were improperly created’ and as a result the company changed course on some of its customer acquisition strategies, including incentive-driven campaigns, in the fourth quarter. Additionally, as the company evolved its customer acquisition and retention strategy, PayPal expects only 15 to 20 million net new customer accounts in 2022, and the company “no longer believes it will reach its mid-term goal of 750 million accounts [it] set last year is appropriate.”

As a result of this news, PayPal’s stock price fell $43.23 per share, or 24.59%, to close at $132.57 per share on February 2, 2022.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris and Tel Aviv, is recognized as one of the leading law firms specializing in corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, best known as Dean of the Class Bar Association, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he…