Ryan D. Stottmann and Taylor A. Christensen of Morris, Nichols, Arsht & Tunnell and Michelle Fu of Vinson & Elkins have entered appearances Paycom, a technology company that offers businesses cloud-based software to automate payroll processes, and its executive officers and board in a pending shareholder derivative lawsuit. The case, filed Jan. 12 in Delaware District Court by Rigrodsky Law and the Grabar Law Office on behalf of Chesley Moon, alleges that the defendants failed to disclose that customer adoption of its new application 'Beti' undermined Paycom’s future revenues because it allows employees to process their own payrolls, when the company relied on fees for customers to fix issues in their payroll processes. The case, assigned to U.S. District Judge Colm F. Connolly, is 1:24-cv-00046, Moon v. Richison et al.
Technology
February 23, 2024, 9:42 AM