Paysign, Investors Get Final Approval for $3.75 Million Deal

Paysign Inc. and investors, who alleged the company and two executives engaged in securities fraud by misrepresenting the employment of a suspended accountant, received final approval for a $3.75 million class action settlement, according to the court’s docket.

The US District Court for the District of Nevada awarded the two class representatives $5,000 each—half of what they originally requested, the docket entry also noted.

• Paysign investors alleged on behalf of a proposed class that the company violated the Securities Exchange Act of 1934. Specifically, the investors asserted the company employed suspended accountant Arthur De Joya; that software changes created ...