PayPal CEO and CFO face securities class action over alleged misstatements after 20% share drop

Reuters03-12 21:08

<a href="https://laohu8.com/S/PYPL">PayPal</a> CEO and CFO face securities class action over alleged misstatements after 20% share drop

A securities class action filed in the U.S. District Court for the Northern District of California names PayPal CEO James Alexander Chriss and CFO Jamie S. Miller as individual defendants. The suit covers a class period from February 25, 2025 through February 2, 2026 and includes claims under Section 20(a) of the Securities Exchange Act of 1934. The complaint alleges the executives had control over PayPal’s public statements and certified SEC filings under Sarbanes-Oxley Sections 302 and 906. PayPal shares fell $10.63, a 20% single-day decline, after alleged misrepresentations were revealed on February 3, 2026. The court set April 20, 2026 as the deadline to apply for lead plaintiff appointment.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. PayPal Holdings Inc. published the original content used to generate this news brief via PR Newswire (Ref. ID: 202603120900PR_NEWS_USPR_____NY08457) on March 12, 2026, and is solely responsible for the information contained therein.

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