Paysign, Inc. Securities Litigation

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Lawsuit Overview

Defendant:Paysign, Inc.
Date Filed:March 19th, 2020
Sector:Miscellaneous
Industry:Business Services
Class Start Date:March 12th, 2019
Class End Date:March 31st, 2020

According to the Complaint, Paysign, Inc. purports to provide prepaid card programs and processing services under the PaySign brand to corporations, government agencies, universities, and other organizations. The Company changed its name from 3PEA International Inc. to Paysign, Inc. on April 23, 2019.

The Complaint alleges that Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Paysign's internal control over financial reporting was not effective; (2) Paysign's information technology general controls were not effective; and (3) 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.

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First Identified Complaint

Yilan Shi, et al. v. Paysign, Inc., et al.

Date Filed:March 19th, 2020
Class Period Start:March 12th, 2019
Class Period End:March 31st, 2020
First Identified Complaint Filings
#Document TitleFiling Date