Core Viewpoint - Kaskela Law LLC is investigating potential breach of fiduciary duty claims against Paycom Software, Inc. on behalf of long-term shareholders due to alleged securities fraud and misleading statements made by the company and its executives [1][2][5]. Financial Performance - Paycom reported disappointing financial results for Q2 2023, with the CFO indicating expected weakness in future revenue due to undisclosed negative impacts from the Beti product, leading to a nearly 20% decline in stock value [3]. - Following further disclosures on October 31, 2023, regarding strategic decisions that would result in a dramatic deceleration of revenue growth, Paycom's stock fell over 38% [4]. Legal Investigation - The investigation aims to determine if Paycom's board members violated securities laws or breached fiduciary duties related to the alleged misconduct [5]. - Current shareholders who have owned Paycom shares since at least January 1, 2023, are encouraged to contact Kaskela Law LLC for information regarding their legal rights [5].
PAYCOM SHAREHOLDER ALERT: Kaskela Law LLC Announces Investigation of Paycom Software, Inc. (NYSE: PAYC) and Encourages Long-Term Investors to Contact the Firm