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. In this complete guide for shareholders, we will discuss all options shareholders have in the Paycom class action lawsuit, including moving to be appointed a lead plaintiff, doing nothing, timelines, and more. So, read on and learn everything you need to know about your options and your choices at this point in the litigation. WHAT IS A SECURTIES FRAUD CLASS ACTION?
A securities fraud class action refers to a legal action taken by a group of investors who have suffered financial losses as a result of fraudulent activities committed by a company or its executives. This type of lawsuit is typically filed when a company misrepresents or withholds important information from investors, leading to a decline in the value of their investments. The purpose of a securities fraud class action is to seek compensation for the affected investors and hold the company accountable for its fraudulent practices.
One notable securities fraud class action lawsuit is the Paycom class action lawsuit. In this case, investors who purchased Illumina securities alleged that the company made false and misleading statements and misled investors, and when the truth was ultimately disclosed, they suffered losses from purchasing shares that had been artificially inflated by the false and misleading information. Securities fraud class actions are typically initiated by a lead plaintiff or a group of lead plaintiffs who represent the interests of all the affected investors. The lead plaintiff is often an institutional investor or a large shareholder who has suffered substantial losses and possesses the resources and expertise to effectively pursue the lawsuit on behalf of the class. The lead plaintiff's role is crucial in coordinating with legal counsel, gathering evidence, and making strategic decisions throughout the litigation process. To proceed with a securities fraud class action, the lead plaintiff must demonstrate that there is a common issue of law or fact among the members of the class and that a class action is the most efficient and appropriate method for resolving their claims. If these requirements are met, the court will certify the lawsuit as a class action, allowing all eligible investors to participate in the litigation and share in any potential recovery. Once certified, the securities fraud class action typically goes through several stages, including discovery, where both parties exchange relevant documents and information, and motion practice, where each side presents legal arguments to the court. If the case does not settle during these stages, it may proceed to trial, where a jury or judge will determine liability and damages. In securities fraud class actions, the defendants are usually the company accused of fraud and its executives who were involved in the fraudulent activities. The lead plaintiff seeks damages on behalf of all class members, which may include compensation for their financial losses, interest, attorneys' fees, and other costs incurred throughout the litigation process. In conclusion, a securities fraud class action is a legal mechanism used by investors to seek compensation for financial losses resulting from fraudulent activities committed by a company. The Paycom class action lawsuit serves as an example of how investors can hold companies accountable for their alleged misrepresentations and omissions. These lawsuits play an essential role in protecting investor rights and promoting transparency in the financial markets. 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?
The lead plaintiff deadline in the Paycom class action lawsuit is fast approaching, and investors who wish to participate in the case must act promptly. A securities class action lawsuit is a legal proceeding in which a group of investors who have suffered financial losses due to alleged fraudulent or misleading activities by a company join forces to seek compensation. In this case Paycom and certain of its executives are accused of making false and misleading statements about its business prospects as well as filing false and misleading financial statements. The lead plaintiff deadline is the date by which an investor must file a motion with the court to be appointed as the lead plaintiff in the 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 YOUR CHOICES IF YOU RECEIVE A NOTICE IN THE PAYCOM CLASS ACTION LAWSUIT?
If you have received a notice in a securities class action, such as the Paycom class action lawsuit, it is important to understand your options and what steps you can take. First, it is crucial to carefully read the notice and understand the allegations being made in the lawsuit. This will allow you to evaluate whether or not you have a valid claim and if it is worth pursuing.
Once you have reviewed the notice and determined that you may have a valid claim, you have a few options. The first option is to do nothing and remain a passive member of the class action. By doing so, you may be eligible to receive compensation if the lawsuit is successful and a settlement or judgment is reached. However, it is important to note that your recovery may be limited depending on the size of the class and the damages awarded. Alternatively, you can choose to opt out of the class action. By opting out, you are removing yourself from the lawsuit and preserving your right to pursue an individual claim against the defendant. This option may be beneficial if you believe that your losses are significant and that you would be better served by pursuing your own legal action. Another option is to participate actively in the class action as a lead plaintiff. This involves taking on a leadership role in the lawsuit and representing the interests of the class members. As a lead plaintiff, you may have greater control over the litigation process and potentially increase your chances of obtaining a favorable outcome. 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. Regardless of which option you choose, it is highly recommended to consult with an attorney who practices securities litigation. They can guide the best course of action based on your circumstances and ensure that your rights are protected throughout the legal process. IF you RECEIVE A SETTLEMENT FROM FINRA CAN you can STILL PARTICIPATE IN THE PAYCOM LAWSUIT?
Yes, the acceptance of restitution or compensation from a FINRA regulatory settlement does not waive your right to monetary or other benefits through the courts, arbitration, or mediation. Therefore, even if you received a settlement from FINRA, you can still participate in the Paycom lawsuit.
WHAT IS THE LEAD PLAINTIFF PROCESS IN THE PAYCOM CLASS ACTION LAWSUIT?
One option you have to consider, if you suffered substantial damages, is to move the Court to be appointed as lead plaintiff in the Paycom class action lawsuit.
The Private Securities Litigation Reform Act of 1995 permits any investor who purchased and suffered losses in Paycom stock to seek appointment as lead plaintiff in the Paycom class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the securities class action lawsuit. An investor’s ability to share in any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff. If you suffered losses in Paycom stock and have further questions, contact Paycom stock loss Lawyer Timothy L. Miles today who will fight to recover your damages in a Paycom class action lawsuit if you suffered losses in Paycom stock. CAN A NON-U.S. INVESTOR SERVE AS LEAD PLAINTIFF IN THE PAYCOM CLASS ACTION LAWSUIT IF THEY SUFFERED LOSSES IN PAYCOM STOCK?
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 ARE THE BENEFITS OF SERVING AS LEAD PLAINTIFF IN THE PAYCOM CLASS ACTION LAWSUIT?
Serving as a Lead Plaintiff in the Paycom class action lawsuit has several advantages and important benefits including:
Thus, there are numerous benefits and other advantages to serving as lead plaintiff in a class action against Paycom if you suffered losses in Paycom stock. 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:
you cannot BE APPOINTED LEAD PLAINTIFF IN THE PAYCOM CLASS ACTION LAWSUIT IF I PURCHASED SHARES OUTSIDE OF THE CLASS PERIOD
Even if you suffered losses in Paycom stock, if you purchased securities outside of the Class period, you will not be able to participate in the Paycom class action lawsuit.
WILL THE LEAD PLAINTIFFS GET MORE MONEY THAN CLASS MEMBERS IF THE PAYCOM CLASS ACTION LAWSUIT SETTLES?
No, but they may be entitled to recover their reasonable expenses incurred with are directly related to representing the class in the Paycom class action lawsuit. Under the Private Securities Litigation Reform Act of 1995, a Lead Plaintiff is only entitled to his or her pro rata share of any recovery and does not receive any additional money for serving as a representative party on behalf of the class. However, a court, in its discretion, may approve an award of “reasonable costs and expenses (including lost wages)” to a Lead Plaintiff that directly relates to the representation of the class in the Paycom class action lawsuit on behalf of investors who suffered losses in Paycom stock.
HOW WAS THE CLASS PERIOD DETERMINED IN THE PAYCOM LAWSUIT?
In a securities fraud class action, the class period refers to a period of time in which it is alleged the price of the company’s stock was artificially inflated due to false and misleading statements made by company executives. The class period starts when the company makes an untrue statement of material fact about the company 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.
In order to be a part of the class in the Paycom lawsuit, you must have suffered losses in Paycom stock by purchasing during the class period when it is alleged the price of the stock was artificially inflated to be included in the class action against Paycom. CAN you SELL your STOCK AND STILL BE A MEMBER OF THE CLASS IN THE PAYCOM CLASS ACTION LAWSUIT?
Yes. There is no requirement for you to retain ownership of the stock after the class period has expired to participate in the Paycom class action lawsuit.
HOW CAN A PAYCOM STOCK LOSS LAWYER HELP you IF you SUFFERED LOSSES IN PAYCOM STOCK?
A Paycom stock loss Lawyer is well-versed in the complex laws that govern the securities industry and litigation and focuses on representing individual investors or funds who have been the victims of fraud or who have disputes with investment professionals. Ordinary individual investors, including civil servants, teachers, nurses, and retirees, may need a securities lawyer. In most cases, they have lost money due to mistakes, incompetence, or fraud by an investment professional.
While FINRA, the SEC, and state securities regulators serve a vital role in protecting investors, they simply have too many individuals, firms, and market transactions to monitor to discover every act of fraud or negligence. Individual investors should consult with a securities lawyer if they have lost money due to fraud or stockbroker misconduct. 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 TO KNOW IF YOU ARE A MEMBER OF THE CLASS IN THE PAYCOM LAWSUIT?
If you purchased shares during the class period and suffered losses in Paycom stock, then you are most likely a member of the class in the Paycom lawsuit and may participate in the Paycom lawsuit since you suffered losses in Paycom stock.
WHAT IS THE DIFFERENCE BETWEEN OBJECTING AND EXCLUDING YOURSELF IN THE PAYCOM CLASS ACTION LAWSUITS
Objecting is telling the Court you do not believe the settlement in the Paycom class action lawsuit, or some part of it, is fair or reasonable. You can file an objection only if you stay in the Class and do not exclude yourself, and you may submit a Claim Form even if you object to the settlement. On the other hand, requesting exclusion is explicitly telling the Court you do not want to be part of the Class or the Settlement in the class action against Paycom. If you exclude yourself, you cannot object to the Settlement because you no longer have standing as you are not a class member anymore. Similarly, you cannot submit a Claim Form. If you stay in the Class and object, but your objection is overruled, you will not be allowed a second opportunity to exclude yourself.
HOW MUCH DOES IT COST TO HIRE AN PAYCOM STOCK LOSS LAWYER IF I SUFFERED LOSSES IN PAYCOM STOCK?
Nothing. If you suffered losses in Paycom and are a member of the class, it does not cost anything to hire a Paycom stock loss lawyer. Our firm litigates securities fraud cases on a contingent fee basis, so plaintiffs and the class 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. So, contact a Paycom stock loss lawyer today if you suffered losses in Paycom stock about a Paycom class action lawsuit
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 ofthe 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 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 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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