LOS ANGELES, CA / ACCESSWIRE / January 5, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Paycom Software, Inc. ("Paycom" or "the Company") (NYSE:PAYC) for violations of ยงยง10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between February 9, 2022 and October 31, 2023, inclusive (the "Class Period"), are encouraged to contact the firm before January 9, 2024.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Paycom's Beti product cannibalized the sales of its other products and services. The Company knew about the cannibalization of its sales, but failed to warn investors of this or even warn of the risk of cannibalization in general. Because of this problem, the Company would miss its expected third quarter revenues, and revise down its 2023 full year expected revenues. It also negatively impacted expected 2024 year-over-year sales growth. Based on this news, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Paycom, investors suffered damages.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
[email protected]
SOURCE: The Schall Law Firm