Investor Alert: Kaplan Fox Announces Investigation Of Paysign, Inc.

NEW YORK, March 25, 2020 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Paysign, Inc. ("Paysign or the "Company") (NASDAQ: PAYS).  A complaint has been filed against the Company on behalf of investors that purchased Paysign securities between March 12, 2019 and March 15, 2020, inclusive (the "Class Period").

On March 16, 2020, Paysign announced that the Company would be unable to file its annual financial report with the U.S. Securities and Exchange Commission in a timely fashion because it is still in the process of completing the audit of its financial statements.  Paysign also disclosed that in the course of completing its assessment of internal controls over financial reporting for 2019, management identified material weaknesses related to its assessment of internal controls over financial reporting and information technology general controls. 

Following this news, Paysign's stock price fell $0.93 per share, or 16.85%, to close at $4.59 per share on March 16, 2020.

If you are a member of the proposed Class, you may move the court no later than May 18, 2020 to serve as a lead plaintiff for the purported class.  You need not seek to become a lead plaintiff in order to share in any possible recovery.  If you would like to discuss the complaint or our investigation, please contact us by emailing [email protected] or by calling 646-315-9003.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.  If you have any questions about this Notice, your rights, or your interests, please contact:

Donald R. Hall
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(646) 315-9003
E-mail: [email protected]

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
E-mail: [email protected]

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SOURCE Kaplan Fox & Kilsheimer LLP