Investigation
LegalZoom.com, Inc. (LZ)
Whether directors and officers of LegalZoom.com, Inc. (LZ) breached their fiduciary duties to the company and its shareholders.
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Investigation
12/10/2021
Initial Lawsuit
12/10/2021
Lawsuit Progression
05/10/2022
A Playsafe investor filed a securities class action lawsuit against Paysafe, on behalf of persons and entities that purchased or otherwise acquired Paysafe securities between December 7, 2020, and November 10, 2021, inclusive.
According to the complaint, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, defendants allegedly failed to disclose to investors:
(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/or lacked a reasonable basis.
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