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Oklahoma City, OK (March 20, 2020) – On March 19, 2020, a securities class action lawsuit was filed in the United States District Court for the District of Nevada against Paysign, Inc. (NASDAQ: PAYS). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is March 12, 2019 through March 15, 2020. More specifically, 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.
Plaintiff seeks to recover damages on behalf of all Paysign, Inc. shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above. You may move the Court no later than Monday, May 18, 2020 to serve as a lead plaintiff for the entire Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.
If you wish to discuss this action, obtain further information and participate in this or any other securities litigation, or should you have any questions or concerns regarding this notice or preservation of your rights, please contact: Robin Hester at firstname.lastname@example.org