Paysign, Inc. CLASS ACTION Alert: Wolf Haldenstein Adler Freeman & Herz LLP reminds investors that a securities class action lawsuit has been filed in the United States District Court for District of Nevada against Paysign, Inc.

NEW YORK, April 1, 2020 /PRNewswire/ -- Wolf Haldenstein Adler Freeman & Herz LLP  reminds purchasers of the securities of Paysign, Inc (NASDAQ: PAYS) between March 12, 2019 and March 15, 2020, inclusive (the "Class Period") of the important May 18, 2020 lead plaintiff deadline in the federal securities class action commenced in the United States District Court for District of Nevada.

All  investors who purchased shares of Paysign, Inc. and incurred losses are urged to contact the firm immediately at [email protected] or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com.

If you have incurred losses in the shares of Paysign, Inc., you may, no later than May 18, 2020, request that the Court appoint you lead plaintiff of the proposed class.

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CLICK HERE TO JOIN THE CASE 

According to the filed complaint, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:

• Paysign's internal control over financial reporting was not effective;
• Paysign's information technology general controls were not effective; and
• 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.

On March 16, 2020, PaySign filed a Form 12b-25, disclosing it was unable to timely file its annual report for the fiscal year ended December 31, 2019 due to the need for additional time to complete the Company's financial audit.  On this news, shares of PaySign fell $0.93 per share, or nearly 17%, to close at $4.59 per share on March 16, 2020.

Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country.  The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego.  The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at [email protected], or visit our website at  www.whafh.com.

Contact:

Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: [email protected], [email protected] or [email protected]
Tel: (800) 575-0735 or (212) 545-4774

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. 

SOURCE Wolf Haldenstein Adler Freeman & Herz LLP

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