An investigation on behalf of investors of PaySign, Inc. (NASDAQ: PAYS) shares over potential securities laws violations by PaySign, Inc. and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of PaySign, Inc. (NASDAQ: PAYS) concerning whether a series of statements by PaySign, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

PaySign, Inc. provides prepaid card programs and processing services under the PaySign brand to corporations, government agencies, universities, and other organizations. PaySign, Inc. reported that its annual Total Revenue rose from over $15.23 billion in 2017 to over $23.42 billion in 2018 and that its Net Income increased from over $1.79 billion in 2017 to over $2.58 billion in 2018.

Shares of PaySign, Inc. (NASDAQ: PAYS) grew from $0.75 per share in early 2018 to as high as $18.67 per share in July 2019.

On September 9, 2019, PaySign, Inc lowered its fiscal 2019 revenue guidance to a range of $35 million to $37 million, from prior guidance range of $38 million to $40 million, citing delays in onboarding of new plasma industry programs.