If you suffered losses in Paycom stock, contact Paycom stock loss lawyer Timothy L. Miles about a Paycom class action lawsuit
introduction to the Paycom class action lawsuit
The Paycom class action lawsuit, captioned Ventrillo v. Paycom Software, Inc., No. 23-cv-01019 (W.D. Okla.), was filed in the Western District of Oklahoma and charges Paycom and certain of its top executive officers with violations of the Securities Exchange Act of 1934.
If you suffered losses in Paycom stock and wish to serve as lead plaintiff in the Paycom class action lawsuit, please contact Paycom Stock Loss Lawyer Timothy L. Miles by calling 855/846-6529 or via e-mail at [email protected] or by submitting a contact form. Lead plaintiff motions for the Paycom class action lawsuit must be filed with the court no later than January 16, 2024. Read on for answers to four frequently asked questions investors have about the Paycom class action lawsuit. what are the ALLEGATIONS IN THE PAYCOM CLASS ACTION LAWSUIT?
Paycom purports to be a “leading provider of a comprehensive, cloud-based human capital management . . . solution delivered as Software-as-a-Service.”
The Paycom class action lawsuit alleges that defendants throughout the class period made false and/or misleading statements and/or failed to disclose that: (i) Paycom’s Beti product led to cannibalization of Paycom’s services and revenues; (ii) Paycom knew but failed to disclose that Beti was leading to cannibalization of Paycom’s services and revenues, and failed to warn of cannibalization as a general risk; (iii) as a result of cannibalization of revenue, Paycom missed its expected third quarter of 2023 revenue and would have to revise its expected 2023 revenues; and (iv) the cannibalization issue resulted in projected 2024 year-over-year revenue growth to between 10% and 12%, below expectations. The Paycom class action lawsuit further alleges that on October 31, 2023, Paycom announced that Beti was cannibalizing a portion of Paycom’s services and revenues, which led Paycom to miss revenue projections for the third quarter of 2023 and revise its financial guidance. The Paycom class action lawsuit alleges that on this news, the price of Paycom stock fell more than 38%. WHAT IS THE LEAD PLAINTIFF DEADLINE IN THE PAYCOM CLASS ACTION LAWSUIT?
When a securities class action is filed such as the Paycom class action lawsuit, the person who files the first complaint is required to publish a notice announcing the filing. Anyone who wants to be lead plaintiff on behalf of the class in the Paycom class action lawsuit must thereafter file a motion to be appointed as lead plaintiff(s) no later than 60 days after the notice was published.
WHAT ARE MY CHOICES IF I RECEIVE A NOTICE IN THE PAYCOM CLASS ACTION LAWSUIT?
First, read the notice very carefully. You have two choices. First, you can do nothing and remain a member of the class represented by lead counsel. Second, if you believe you have a large enough loss to justify it, you can opt out of the Paycom class action lawsuit and file your own separate lawsuit. Note, that if you opt-out, you will not be able to participate in any settlement or recovery obtained in the Paycom class action lawsuit.
Paycom class action lawsuit
Yes, courts in the U.S. have consistently recognized that non-U.S. investors, many of whom have substantial holdings, are adequate lead plaintiffs and have the same right to move for lead plaintiffs as U.S. investors. Thus, if a non-U.S. investor suffered losses in Paycom stock, they may move the Court to be appointed lead plaintiff in the Paycom class action lawsuit.
WHAT RESPONSIBILITIES WILL THE LEAD PLAINTIFF HAVE IN THE PAYCOM CLASS ACTION LAWSUIT?
A Lead Plaintiff owes a fiduciary duty to the class, and therefore, must act in the best interest of the class in the Paycom class action lawsuit. Some of the responsibilities of the Lead Plaintiff in the Paycom class action lawsuit include:
CONTACT A PAYCOM STOCK LOSS LAWYER TODAY IF YOU SUFFERED LOSSES IN PAYCOM STOCK ABOUT A PAYCOM CLASS ACTION LAWSUIT
If you suffered losses in Paycom stock, contact Paycom stock loss lawyer Timothy L. Miles today for a free case evaluation about a Paycom class action lawsuit. Call today and see what a Paycom stock loss lawyer could do for you if you suffered losses in Paycom stock.
Paycom stock loss lawyer Timothy L. MilesNashville attorney Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles has dedicated his career to representing shareholders, employees, and consumers in complex class-action litigation. Whether serving as lead, co-lead, or liaison counsel, Mr. Miles has helped recover hundreds of millions of dollars for defrauded investors, shaped precedent-setting decisions, and delivered real corporate governance reforms. Judges and peers have repeatedly recognized Mr. Miles’ relentless advocacy for the underdog, as well as his unbendable ethical standards. Mr. Miles was recently selected by Martindale-Hubbell® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator. and a 2022 Elite Lawyer of the South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association,​Class Action: Class Action: Top 9National Trial Lawyers, National Trial Lawyers Association (2023), a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019); a Top Rated Litigator by Martindale-Hubbell® and ALM (2019-2022); America’s Most Honored Lawyers 2020 – Top 1% by America’s Most Honored (2020-2022). Mr. Miles has published over sixty articles on various issues of the law, including class actions, whistleblower cases, products liability, civil procedure, derivative actions, corporate takeover litigation, corporate formation, mass torts, dangerous drugs, and more. Please visit our website or call for free anytime. Comments are closed.
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The Law Offices of Timothy L. Miles Tapestry at Brentwood Town Center 300 Centerview Dr., #247 Brentwood, TN 37027 Phone: (855) 846-6529 Email: [email protected] HOURS OF OPERATION Mon-Fri: 24/7 Sat-Sun: 24/7 |