Paysafe Limited Company News: Berger Montague is investigating allegations of securities fraud against Paysafe Limited (PSFE); The deadline for the lead applicant is February 8, 2022 | 2022-01-19 | Press Releases
Philadelphia, Pa.–(Newsfile Corp. – Jan. 19, 2022) – Berger Montague is investigating allegations of securities fraud on behalf of investors who purchased the securities of Paysafe Limited (“Paysafe” or the “Company”) ( NYSE: PSFE) between From December 7, 2020 to November 10, 2021 (the “Class Period”).
If you purchased Paysafe Securities during the Class Period, wish to discuss Berger Montague’s investigation, or have any questions regarding your rights or interests, please contact attorneys Andrew Abramowitz at [email protected] or (215) 875- 3015, or Michael Dell’Angelo at [email protected] or (215) 875-3080.
Whistleblowers: Anyone with nonpublic information about Paysafe is encouraged to confidentially participate in Berger Montague’s investigation or take advantage of the SEC’s Whistleblower Program. Under this program, whistleblowers who provide original information may receive rewards totaling up to thirty percent (30%) of recoveries obtained by the SEC. For more information, contact us.
Paysafe, formerly known as Foley Trasimene Acquisition Corp. II (“FTAC”) and based in Bermuda, is a provider of digital commerce solutions that allow users to upload, store, withdraw and pay funds to and from virtual accounts. On March 30, 2021, Paysafe became a public entity through a business combination with FTAC.
According to a recently filed lawsuit, Paysafe falsely told investors that it was negatively affected by new gambling regulations and experienced performance issues in its digital wallet segment.
On November 11, 2021, before the market opened, Paysafe announced that it was making a downward adjustment to its full-year 2021 revenue forecast, and that it attributed this adjustment to “[g]hesitant and soft regulations in major European markets and performance challenges impacting the digital wallet segment” and “[t]it changed the scope and timing of new agreements with e-commerce customers from the company’s original expectations for these agreements. »
On this news, Paysafe’s share price fell $3.03 per share – or 40% – to close at $4.24 per share on November 11.
Shepherd Montaguewith offices in Philadelphia, Minneapolis, Washington, D.C. and San Diego, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for more than five decades and acts as lead counsel before the courts. across the United States.
Andrew Abramowitz, Senior Counsel
Michael Dell’Angelo, executive shareholder
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