| COMPANY |
Paysafe Limited |
| COURT |
United States District Court for the Southern District of New York |
| CASE NUMBER |
21-cv-10611 |
| JUDGE |
The Honorable Edgardo Ramos |
| CLASS PERIOD |
December 7, 2020 - November 11, 2021 |
| SECURITY TYPE |
Securities |
Case Background:
This is a securities fraud class action lawsuit on behalf of those who purchased or acquired Paysafe Limited (“Paysafe”) (NYSE: PSFE) f/k/a Foley Trasimene Acquisition Corp. II (“FTAC”) (NYSE: BFT) securities between December 7, 2020 and November 11, 2021, inclusive (the “Class Period”).
The Complaint alleges that, throughout the Class Period, the Defendants misrepresented and/or failed to disclose that: (1) Paysafe was being negatively impacted by gambling regulations in key European markets; (2) Paysafe was encountering performance challenges in its Digital Wallet segment; (3) new eCommerce customer agreements were being pushed back; and (4) as a result, the defendants’ statements about Paysafe’s business, operations, and prospects lacked a reasonable basis.
Current Status of Case:
On May 16, 2024, Lead Plaintiff filed an Amended Complaint. Defendants filed a Motion to Dismiss the Amended Complaint on July 15, 2024. The Motion has been fully briefed by the parties and awaiting the Court’s decision. This action is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.