Failure To Plead Scienter Leads To Dismissal Of PayPal Securities Suit

Mealey's (December 14, 2018, 2:29 PM EST) -- SAN FRANCISCO — Interim lead plaintiffs in a securities class action lawsuit stemming from a massive data breach have failed to plead the requisite element of scienter in their federal securities law claims against PayPal Holdings Inc. and certain of its subsidiaries and senior executives, a federal judge in California ruled Dec. 13 (Ronald Sgarlata, et al. v. PayPal Holdings Inc., et al., No. 17-6956, N.D. Calif., 2018 U.S. Dist. LEXIS 210564)....