Paysafe Limited (NYSE:PSFE)

HENDERSONVILLE, TN, UNITED STATES, December 23, 2021 /EINPresswire.com/ -- The Law Offices of Timothy L. Miles, who has been leading the fight to protect shareholder rights for over 20 years, announces that a purchaser of Paysafe Limited (PSFE) filed a class action complaint against the Company and its officers and directors for alleged violations of the Securities Exchange Act of 1934 between December 7, 2020 and November 10, 2021. The Paysafe class action lawsuit was commenced on December 10, 2021 in the Southern District of New York and is captioned Wiley v. Paysafe Limited f/k/a Foley Trasimene Acquisition Corp. II, No. 21-cv-10611.

If you suffered a loss due to Paysafe’s misconduct, click here.

Paysafe Limited (PSFE) Failed to Disclose the Truth About its Business Prospects

According to the complaint, on December 7, 2020, Foley Trasimene Acquisition Corp. (FTAC) announced it and Paysafe Group Holdings Limited entered into a definitive merger agreement and plan of merger and the newly combined company would operate as Paysafe. On March 30, 2021, Paysafe announced it had completed the merger.

Throughout the class period, Paysafe touted its financial results, progress on its strategic initiatives, and milestones in scaling its platform, including in iGaming and crypto. The Company, however, failed to disclose to investors that it was being negatively impacted by gambling restrictions in key European markets, encountering performance challenges in its Digital Wallet segment, and that new eCommerce customer agreements were being pushed back.

On November 11, 2021, Paysafe announced it was revising its guidance revenue for the full year 2021 downward from a range of $1,530-$1,550 to a range of $1,470-$1,480. Paysafe attributed the revision to “[g]ambling regulations and softness in key European markets and performance challenges impacting the Digital Wallet segment” and “[t]he modified scope and timing of new eCommerce customer agreements relative to the Company’s original expectations for these agreements.” On this news, the Company’s share price fell more than 40% to close at $4.24 per share on November 11, 2021.

If you acquired shares of Paysafe Limited (PSFE) securities between December 7, 2020 and November 10, 2021, you have until February 08, 2022, to ask the court to appoint you lead plaintiff for the class.

Paysafe Shareholders Urged to Contact the Firm

If you purchased Paysafe securities, have information, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Timothy L. Miles, Esquire, at 615-587-7384, Toll-Free at 855-846-6529, or by email to tmiles@timmileslaw.com or to submit form click here. If you inquire by email please include your mailing address, telephone number, and the number shares owned.

About Timothy L. Miles
Timothy L. Miles is a nationally recognized shareholder, employee rights and personal injury attorney raised in Nashville, Tennessee. Earlier this year, Mr. Miles was recognized as a 2021 Top Ranked Lawyer; 2021 Top Rated Litigator; and a 2021 Elite Lawyer of The South by Martindale-Hubbell^® and ALM, his third consecutive year to receive each award. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell^®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association, a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019). Awards: Top Rated Litigator by Martindale-Hubbell^® and ALM (2019-2021); Top Rated Lawyer by Martindale-Hubbell^® and ALM (2019-2021); Elite Lawyer of The South by Martindale-Hubbell^® and ALM (2019-2021); Member of the Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association (2017-2021); AV^® Preeminent™ Rating by Martindale-Hubble^® (2014-2021); PRR AV Preeminent Rating on Lawyers.com (2018-2021); The Top-Rated Lawyer in Litigation™ for Ethical Standards and Legal Ability (Martindale-Hubble^® 2015); Lifetime Achievement Award by Premier Lawyers of America (2019); Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019-2021); Superb Rated Attorney (Avvo); Avvo Top Rated Lawyer for (Avvo 2017-2020). Mr. Miles has authored numerous publications advocating for shareholdings including most recently: Free Portfolio Monitoring Services Offered by Plaintiff Securities Firms Provides Significant Benefits to Investors (Timothy L. Miles, Dec. 3, 2019).

CONTACT:
Timothy L. Miles, Esq.
Law Offices of Timothy L. Miles
141 Saundersville Road, #2202
Hendersonville, TN 37075
Telephone: (855-846-6529)
Email: tmiles@timmileslaw.com
Website: www.timmileslaw.com
https://www.classactionlawyertn.com/paysafe-limited.html

Timothy L. Miles
Law Offices of Timothy L. Miles
+1 6155877384
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Timothy Lee. Miles
Law Offices Of Timothy L. Miles
+1 615-587-7384
email us here
Visit us on social media:
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LinkedIn
Other

Nationally Recognized Shareholder Rights Attorney Timothy L. Miles Has Achieved the Recognition of American’s Most Honored Lawyers 2020 - Top 1%