Grabar Law Office Investigates Claims on Behalf of Shareholders of Paycom Software, Inc. (PAYC)

Philadelphia, Pennsylvania--(Newsfile Corp. - December 27, 2023) - Grabar Law Office is investigating potential claims against the officers and directors of Paycom Software, Inc. on behalf of current long-term stockholders.

A recently filed securities fraud class action complaint alleges that Paycom (NYSE: PAYC), via certain of its officers and directors, made materially false and/or misleading statements and/or failed to disclose that: (1) Paycom's Beti product led to cannibalization of the Paycom's services and revenues; (2) Paycom knew but failed to disclose that Beti was leading to cannibalization of Paycom's services and revenues, and failed to warn of cannibalization as a general risk; (3) as a result of cannibalization of revenue, Paycom missed its expected 3Q23 revenue and would have to revise its expected 2023 revenues; (4) the cannibalization issue resulted in projected 2024 year-over-year revenue growth to between 10% and 12%, well below expectations; and (5) 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.

If you have continuously held Paycom shares since prior to February 9, 2022, you may seek corporate reforms, the return of funds back to company coffers, and a court approved incentive award at no cost to you.

If you would like to learn more about this matter, you are encouraged to visit https://grabarlaw.com/the-latest/paycom-shareholder-investigation/, contact Joshua H. Grabar at jgrabar@grabarlaw.com or Mia R. Heller at mheller@grabarlaw.com, or call 267-507-6085.

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Contact:
Joshua H. Grabar, Esq.
Grabar Law Office
One Liberty Place
1650 Market Street, Suite 3600
Philadelphia, PA 19103
Tel: 267-507-6085
Email: jgrabar@grabarlaw.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/192431