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Lawsuit filed for Investors in shares of PaySign, Inc. (NASDAQ: PAYS)

03-26-2020 08:38 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in PaySign, Inc. (NASDAQ: PAYS) shares.

A lawsuit was filed on behalf of investors in PaySign, Inc. (NASDAQ: PAYS) shares.

An investor, who purchased shares of PaySign, Inc. (NASDAQ: PAYS), filed a lawsuit over alleged Securities Laws violations by PaySign, Inc.

Investors in shares of PaySign, Inc. (NASDAQ: PAYS) should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On September 9, 2019, PaySign, Inc lowered its fiscal 2019 revenue guidance to a range of $35 million to $37 million, from prior guidance range of $38 million to $40 million, citing delays in onboarding of new plasma industry programs.
On March 16, 2020, PaySign, Inc announced that would be unable to file its annual financial report with the U.S. Securities and Exchange Commission in a timely fashion due to an ongoing audit. According to PaySign, it has identified material weaknesses tied to its assessment of internal controls over financial reporting and information technology.

Shares of PaySign, Inc (NASDAQ: PAYS) declined to as low as $3.63 per share on March 23, 2020.

The plaintiff claims that between March 12, 2019 and March 15, 2020, the defendants made false and/or misleading statements and/or failed to disclose that Paysign's internal control over financial reporting was not effective, that Paysign's information technology general controls were not effective, and that as a result, defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Those who purchased shares of PaySign, Inc. (NASDAQ: PAYS) have certain options and should contact the Shareholders Foundation.

About:
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

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