Rosen Law Firm Files Class Action for Paycom Software Investors; Critical Deadline Announced

Rosen Law Firm, recognized as a preeminent national legal firm, has initiated a class action lawsuit on behalf of shareholders who bought securities from Paycom Software, Inc. PAYC, an American provider of online payroll and HR technology, headquartered in Oklahoma City, Oklahoma. This lawsuit pertains to purchases made within the period beginning May 3, 2023, and ending November 1, 2023.

Investor Rights and Remedies

The firm encourages investors who have purchased Paycom securities within the specified timeframe to seek counsel prior to the important deadline of January 9, 2024. The ability to participate in any recovery doesn't require serving as a lead plaintiff, but this role is essential in governing the litigation on behalf of other members.

Eligibility for Compensation

Those who invested in PAYC during the Class Period might be entitled to compensation. The Rosen Law Firm operates on a contingency fee basis, offering representation without upfront fees or costs.

Claims of Misrepresentation

The legal complaint alleges that Paycom made materially false and/or misleading statements regarding its product Beti and its impact on the company's services and revenues. Specifically, it argues that Paycom failed to reveal how Beti led to cannibalization of its services, resulting in a shortfall in anticipated revenue for Q3 of 2023 and necessitating a revision of revenue forecasts for the entire year. Furthermore, it contends that this issue significantly lowered expected revenue growth projections for 2024 to mere 10-12%, a figure well below prior expectations, thus causing investor damage when these facts surfaced on the market.

Rosen Law Firm's Market Influence

The Rosen Law Firm is renowned for its global representation of investors, focusing mainly on securities class actions and shareholder derivative litigation. It has been ranked top in security class action settlements, recovering substantial sums for investors, and is celebrated for its proficient legal team. Investors are advised to choose their counsel wisely, considering the firm's track record, expertise, and peer recognition.

Legal Steps for Investors

Investors are encouraged to join the class action by contacting the assigned attorneys before the January deadline. Until the class is officially certified, investors are not represented unless they appoint a lawyer.

With a steadfast commitment to defending investor interests and a history of compelling legal victories, Rosen Law Firm continues to invite Paycom shareholders to step forward and secure their rights in this pivotal lawsuit.

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