Labaton Keller Sucharow LLP Announces Expanded Securities Class Action Lawsuit Filed Against PayPal Holdings, Inc. and Certain Executives
NEW YORK–(BUSINESS WIRE)–Labaton Keller Sucharow LLP (“Labaton”) announces that, on April 2, 2026, it filed a securities class action lawsuit (the “Complaint”) on behalf of its client Norfolk County Retirement System (“Norfolk County”) against PayPal Holdings, Inc. (“PayPal” or the “Company”) (NASDAQ: PYPL) and certain PayPal officers (collectively, “Defendants”). The action, which is captioned Norfolk County Retirement System v. PayPal Holdings, Inc., No. 26-cv-02849 (N.D. Cal. April 2, 2026) asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”), and U.S. Securities and Exchange Commission Rule 10b-5 promulgated thereunder, on behalf of all persons or entities who purchased or otherwise acquired PayPal common stock between February 8, 2024, through February 2, 2026, inclusive (the “Class Period”).
The Complaint expands upon the allegations that were asserted in the related actions against PayPal captioned Goodman v. PayPal Holdings, Inc., No. 26-cv-01381 (N.D. Cal. Feb. 17, 2026) (the “Goodman Complaint”) and Darcy v. PayPal Holdings, Inc., No. 26-cv-01589 (N.D. Cal. Feb. 24, 2026).
Pursuant to the notice published on February 17, 2026, in connection with the filing of the Goodman Complaint, as required by the Private Securities Litigation Reform Act of 1995, investors wishing to serve as Lead Plaintiff in these related securities actions pending against Defendants are required to file a motion for appointment as Lead Plaintiff by no later than April 20, 2026.
PayPal is a multinational digital payments company which generates most of its revenue from applying fees on transactions made by its merchant and consumer customers. The Complaint alleges that Defendants intentionally or recklessly misled investors during the Class Period by claiming PayPal had successfully executed substantial improvements of its branded checkout business, leading to sustainable growth. In reality, PayPal was experiencing severe execution issues in the branded checkout business that were undermining growth.
Investors learned the truth on February 3, 2026, when PayPal disclosed weak branded checkout growth and announced the sudden departure of its chief executive officer. PayPal largely attributed these poor results to “operational and deployment issues.” On this news, the price of PayPal stock declined from $52.33 per share on February 2, 2026, to $41.70 per share on February 3, 2026, a decline of over 20 percent.
If you purchased or acquired PayPal common stock during the Class Period and were damaged thereby, you are a member of the “Class” and may be able to seek appointment as Lead Plaintiff. Lead Plaintiff motion papers must be filed no later than April 20, 2026. The Lead Plaintiff is a court-appointed representative for absent members of the Class. You do not need to seek appointment as Lead Plaintiff to share in any Class recovery in this action. If you are a Class member and there is a recovery for the Class, you can share in that recovery as an absent Class member. You may retain counsel of your choice to represent you in this action.
If you would like to consider serving as Lead Plaintiff or have any questions about this lawsuit, you may contact Connor Boehme of Labaton, at +1 (212) 907-0780, or via email at [email protected]. You can view a copy of the Complaint online here.
Plaintiff Norfolk County is represented by Labaton, which represents many of the largest pension funds in the United States and internationally with combined assets under management of more than $6 trillion. Labaton’s litigation reputation is built on its half-century of securities litigation experience, more than ninety full-time attorneys, and in-house team of investigators, financial analysts, and forensic accountants. Labaton has been recognized for its excellence by the courts and peers, and it is consistently ranked in leading industry publications. Offices are located in New York, Delaware, London, and Washington, D.C. More information about Labaton is available at labaton.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260402369715/en/
Connor Boehme, Esq.
Labaton Keller Sucharow LLP
+1 (212) 907-0780
[email protected]
KEYWORDS: New York United States North America
INDUSTRY KEYWORDS: Class Action Lawsuit Professional Services Legal
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