SAN DIEGO, Dec. 16, 2023 (GLOBE NEWSWIRE) -- Robbins LLP reminds investors that a shareholder filed a class action lawsuit on behalf of persons and entities that purchased or otherwise acquired Paycom Software, Inc. (NYSE:PAYC) securities between May 3, 2023 and November 1, 2023. Paycom purports to be a "leading provider of a comprehensive, cloud-based human capital management ("HCM") solution delivered as Software-as-a-Service."
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What is this Case About: Paycom Software, Inc. (PAYC) Misled Investors Regarding the Impact of its Beti Product on Revenue
According to the complaint, during the class period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Paycom's Beti product led to cannibalization of the Company's services and revenues; (2) Paycom knew but failed to disclose that Beti was leading to cannibalization of the Company's services and revenues, and failed to warn of cannibalization ...