(PSFE) Alert: Investors With Losses Over $250,000 Interested in Being a Lead Plaintiff – Contact Johnson Fistel
SAN DIEGO, Dec. 11, 2021 (GLOBE NEWSWIRE) — Shareholder rights law firm Johnson Fistel, LLP announces that purchasers of Paysafe Limited (“Paysafe” or the “Company”) (NYSE: PSFE) f/k/a Foley Trasimene Acquisition Corp. II (“FTAC”) between December 7, 2020 and November 10, 2021 the (“Class Period”), both dates inclusive have until February 8, 2022, to file a lead plaintiff motion.
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On March 30, 2021, Paysafe became a public entity via business combination with FTAC.
Then, on November 11, 2021, before the market opened, Paysafe announced that it was revising its revenue guidance for the full year 2021 downward from a range of $1,530 – $1,550 million to a range of $1,470 – $1,480 million. Paysafe attributed the revision to “[g]ambling regulations and softness in key European markets and performance challenges impacting the Digital Wallet segment” and “[t]he modified scope and timing of new eCommerce customer agreements relative to the Company’s original expectations for these agreements.”
Following this news, the Company’s share price fell more than 40% on November 11, 2021.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) that Paysafe was being negatively impacted by gambling regulations in key European markets; (2) that Paysafe was encountering performance challenges in its Digital Wallet segment; (3) that new eCommerce customer agreements were being pushed back; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and lacked a reasonable basis.
A lead plaintiff will act on behalf of all other class members in directing the Paysafe class-action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor’s ability to share any potential future recovery of the Paysafe class action lawsuit is not dependent upon serving as lead plaintiff.
If you suffered a substantial loss and are interested in learning more about being a lead plaintiff, please contact Jim Baker ([email protected]) by email or phone at 619-814-4471. If emailing, please include a phone number.
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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
[email protected]
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