Everything You Need to Know about the Paycom Class Action Lawsuit

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, referred to as Ventrillo v. Paycom Software, Inc., No. 23-cv-01019 (W.D. Okla.), has been filed in the Western District of Oklahoma. The lawsuit accuses Paycom and certain top executive officers of violating the Securities Exchange Act of 1934. If you have experienced losses in Paycom stock and wish to serve as the lead plaintiff in the Paycom class action lawsuit, you can contact Paycom Stock Loss Lawyer Timothy L. Miles at 855/846-6529 or via e-mail at [email protected]. You can also submit a contact form. The deadline for filing lead plaintiff motions for the Paycom class action lawsuit is January 16, 2024.

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%.

The Lead Plaintiff Process in the Paycom Class Action Lawsuit

If you have suffered losses in Paycom stock and want to be the lead plaintiff in the Paycom class action lawsuit, it is essential to understand the lead plaintiff process. The lead plaintiff represents the class of investors who have suffered losses in Paycom stock. This role comes with several advantages and benefits, including:

1. Negotiating more competitive attorney fees and reducing other litigation costs by actively monitoring the class counsel.
2. Managing the litigation by overseeing and monitoring the progress of the action, reviewing important filings, and commenting on them.
3. No financial risk involved as the lead counsel advances all costs and expenses incurred in the prosecution of the case. They will only be reimbursed if there is a successful settlement or judgment recovery on behalf of the class.
4. Being involved and active in all negotiations relating to any settlement.
5. Enjoying long-term benefits from governance reform resulting from the litigation if you continue to own Paycom stock.

It is important to note that being a lead plaintiff does not mean receiving more money than other class members if the Paycom class action lawsuit settles. The lead plaintiff is entitled to their pro-rata share of any recovery. However, the court may award "reasonable costs and expenses (including lost wages)" to the lead plaintiff directly related to the representation of the class in the Paycom class action lawsuit.

Can a Non-U.S. Investor Serve as Lead Plaintiff in the Paycom Class Action Lawsuit?

Yes, non-U.S. investors who suffered losses in Paycom stock can serve as lead plaintiffs in the Paycom class action lawsuit. The key requirement is having experienced losses in Paycom stock during the class period specified in the lawsuit.

Benefits of Serving as Lead Plaintiff in the Paycom Class Action Lawsuit

Being the lead plaintiff in the Paycom class action lawsuit offers several benefits, including:

1. ​Representing the interests of the class by actively participating in the litigation process.
2. Working with experienced attorneys to navigate the complexities of the lawsuit.
3. The potential to recover losses through a successful settlement or judgment.
4. Contributing to governance reform resulting from the litigation.
5. Playing a crucial role in holding the defendant accountable for their alleged misconduct.

Can I Be Appointed Lead Plaintiff if I Purchased Shares Outside of the Class Period?

To be appointed lead plaintiff in the Paycom class action lawsuit, you must have suffered losses in Paycom stock during the class period. The class period refers to the time when the stock price was allegedly artificially inflated due to false and misleading statements or omissions by company executives. If you purchased shares outside of this period, you my not participate in the Paycom class action lawsuit.

Can the Court Appoint More than One Lead Plaintiff in the Paycom Class Action Lawsuit?

In some cases, the court may appoint more than one lead plaintiff in a class action lawsuit. However, the decision ultimately rests with the court, considering factors such as the class members' interests and the efficiency of litigation.

How Was the Class Period Determined in the Paycom Class Action Lawsuit?

The class period in the Paycom class action lawsuit is determined based on the alleged period when the company's stock price was artificially inflated due to false and misleading statements or omissions. It starts when the company makes an untrue statement of material fact or fails to disclose a material fact necessary to render other statements not misleading. The class period ends when the truth is revealed to the investing public through a corrective disclosure. To be part of the class in the Paycom class action lawsuit, you must have suffered losses in Paycom stock by purchasing during the class period.

How Can a Paycom Stock Loss Lawyer Help if I Suffered Losses in Paycom Stock?

If you have suffered losses in Paycom stock, consulting a Paycom stock loss lawyer can provide valuable assistance. A Paycom stock loss lawyer is skilled in securities industry laws and litigation, representing individual investors who have been victims of fraud or have disputes with investment professionals. They can help:

1. Evaluate your case and determine if you have a valid claim.
2. Guide you through the legal process and represent your interests.
3. Seek compensation for your losses through negotiations, settlement discussions, or trial litigation.
4. Advocate for your rights and ensure you receive fair treatment.
5. Stay updated on relevant legal developments and provide expert advice.

Look for a securities lawyer with experience, high ethical standards, verifiable credentials, and a trustworthy reputation among his peers and the judiciary, as well as testimonials from previous clients and awards and recognitions.

One name that immediately pops up is nationally known and widely respected Nashville lawyer Timothy L. Miles, who has valuable experience and has received numerous awards, mostly due to his high ethical standards, and hard work ethic, including most recently being named a Top 25 Class action lawyer by the National Trial Lawyers Association, and has maintained an AV rating from Martindale-Hubble since 2014, was named a 2023 Top Rated Litigator and 2023 Top Rated Lawyer by Martindale-Hubble and ALM, and was recently named a 2023 Elite Lawyer of the South by Martindale-Hubble for the fifth year in a row, and was a recipient of Avvo Client’s Choice Award in 2021, in 2022 was featured in the Top 100 Lawyers Magazine and received the Lifetime Achievement Award by Premier Lawyers of America (2019–2021).

​This will most likely be the only call you need to make. (855) 846–6529 or [email protected]. 

How Do I Know if I am a Member of the Class in the Paycom Class Action Lawsuit?

If you purchased Paycom stock during the class period and suffered losses, you are likely a member of the class in the Paycom class action lawsuit. As a class member, you may participate in the lawsuit and potentially benefit from any settlement or recovery.

How Much Can I Get Out of the Paycom Class Action Lawsuit if I Suffered Losses in Paycom Stock?

In a securities fraud class action lawsuit like the Paycom class action lawsuit, the plaintiff's damages are typically calculated based on out-of-pocket losses. These losses represent the difference between the price at which the stock was sold and the price it would have been sold at without the alleged artificial inflation caused by the defendant's misrepresentations or omissions. The specific amount you may receive depends on various factors, including the overall recovery and the number of eligible class members.

What if I Miss the Lead Plaintiff Deadline in the Paycom Class Action Lawsuit?

If you purchased Paycom stock during the class period and suffered losses, you automatically become a class member in the Paycom class action lawsuit. Missing the lead plaintiff deadline does not prevent you from being part of the class or sharing in any potential settlement or recovery. The lead plaintiff deadline primarily applies to those shareholders who wish to serve as the lead plaintiff in the Paycom class action lawsuit.

When Can I Expect to Receive My Payment if the Paycom Class Action Lawsuit Settles?

If there is a settlement in the Paycom class action lawsuit, you will receive a court-ordered Notice through the mail. This Notice will provide information about a final hearing to decide whether to approve the settlement. If your address has changed, you can also find information on settlement claims through sites such as Consumer Action and ClassAction.org. The Notice will provide instructions on how to file a claim if necessary, including any required documentation to prove your purchase and losses. The court will hold a final hearing to decide on the settlement's approval, and if there are no objections or appeals, settlement payments will be mailed to all participating class members within a few months. However, if there are objections or appeals, the resolution process may take longer.

How Much Does it Cost to Hire a Paycom Stock Loss Lawyer if I Suffered Losses in Paycom Stock?

If you have suffered losses in Paycom stock and are a member of the class, hiring a Paycom stock loss lawyer does not cost anything upfront. Most securities fraud lawyers, including those handling the Paycom class action lawsuit, work on a contingency fee basis. This means that plaintiffs do not pay attorneys' fees or court costs unless there is a recovery, and the attorney fees and costs are awarded by the court as a percentage of the total recovery for the class.

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. ​This will most likely be the only call you need to make. (855) 846–6529 or [email protected]. ​

Paycom stock loss lawyer Timothy L. Miles 

Nashville 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 100 National 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 three hundred 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 Resources center and call for free anytime.

CONTACT                                                      
The Law Offices of Timothy L. Miles
Tapestry at Brentwood Town Center
300 Centerview Dr., #247
Brentwood, TN 37027
Phone: (855) 846-6529