2023-12-29 | NYSE:PAYC | Press Release | Paycom Software Inc
Summary
"The litigation focuses on whether Paycom knew and should have disclosed challenges associated with the ongoing transition to its new payroll solution, Beti," said Reed Kathrein, the Hagens Berman partner leading the investigation. After Paycom delivered its 3Q 2023 results, BMO Capital Markets dropped their price target on PAYC over 40%, from $320.00 to $190.00 in a research note dated Nov. 1. Apart from analyst downgrades, Paycom and its executives face a securities class action brought by investors. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. The firm is home to a robust securities litigation practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and fraud.