Paysign, Investors Ask Court’s Go-Ahead for $3.75 Million Deal

Paysign Inc.'s proposed $3.75 million settlement with shareholders over the payment technology company’s alleged employment of a suspended accountant merits preliminary approval, the parties told a federal court.

The amount represents “almost 10% of the roughly $37.7 million of Plaintiffs’ estimated aggregate damages,” Paysign and the investors said in a Dec. 15 filing with the US District Court for the District of Nevada.

• Result would be well above typical for a securities class action settlement, the parties said
• Judge Gloria M. Navarro ruled in February that the investors could proceed with allegations that Paysign employed suspended accountant Arthur De Joya ...