NEW YORK, NY / ACCESSWIRE / November 19, 2023 / If you have suffered a loss on your Paycom Software, Inc. (NYSE:PAYC) investment and want to learn about a potential recovery under the federal securities laws, follow the link below for more information:
or contact Joseph E. Levi, Esq. by email at [email protected] or call (212) 363-7500 to speak with our team of experienced shareholder attorneys.
THE COURT: A securities class action lawsuit was filed against Paycom Software, Inc. seeking to recover losses for shareholders adversely affected by alleged securities fraud between May 3, 2023 and November 1, 2023.
CASE DETAILS: The complaint filed alleges that the defendants made false statements and/or concealed that: (1) Paycom’s Beti product led to the cannibalization of the company’s services and revenues; (2) Paycom knew but failed to disclose that Beti was leading to cannibalization of the company’s services and revenue, and failed to warn of cannibalization as a general risk; (3) as a result of revenue cannibalization, Paycom missed its 3Q23 revenue forecast and would have to revise its 2023 revenue forecast; (3) the cannibalization issue resulted in expected 2024 year-over-year revenue growth of between 10% and 12%, well below expectations; and (5) as a result, the defendant’s statements about its business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
WHAT’S NEXT? If you have suffered a loss in Paycom shares within the relevant time frame – even if you still have your shares – go to https://zlk.com/pslra-1/paycom-lawsuit-submission-form?prid=56438&wire= 1 to learn about your rights to seek treatment. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally recognized securities law firm, securing hundreds of millions of dollars for aggrieved shareholders and building a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities matters and a team of over 70 staff to serve our clients. For seven consecutive years, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 report as one of the top securities litigators in the United States. Lawyer advertising. Past results do not guarantee similar results.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th floor
New York, NY 10004
Phone: (212) 363-7500
Fax: (212) 363-7171
SOURCE: Levi & Korsinsky, LLP
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