From Law360:
By Katryna Perera (January 20, 2022, 5:27 PM EST) — A PayPal investor has hit executives and directors of the company with a derivative shareholder suit over claims that they made false statements about the company’s business practices that allegedly led to investigations by the U.S. Securities and Exchange Commission and the Consumer Financial Protection Bureau.Plaintiff Robert Lalor, a PayPal shareholder since 2015, filed suit Wednesday in California federal court against 13 executives and directors of the company, asserting claims of securities law violations, breaches of fiduciary duties, unjust enrichment and waste of corporate assets.”This complaint stems from the individual defendants and board of directors’ failure to maintain a reasonable reporting…
Continue reading PayPal Execs Hit With Derivative Suit Over CFPB, SEC Probes on Law360
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