LOS ANGELES–(BUSINESS WIRE)–$PAYS #PAYS—The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of PaySign, Inc. (“PaySign” or “the Company”) (NASDAQ: PAYS) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. PaySign announced on March 16, 2020, that it would be incapable of filing its annual financial report with the SEC in a timely manner. According to the Company, the delay is due to an ongoing audit. The Company has identified material weaknesses in its internal controls over financial reporting and IT. Based on this news, shares of PaySign fell by nearly 17% on the same day.
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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.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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