PayPal's 'Unfair Contract Term' With Small Businesses That Led To Overcharging Ruled Out By Australian Court (Updated)
Portfolio Pulse from Benzinga Neuro
The Australian federal court ruled that PayPal's contract term with small businesses, which led to overcharging, was unfair. PayPal has agreed to remove the term and pay ASIC's litigation costs. This comes as PayPal is in a transition phase with new leadership aiming for long-term growth.
July 05, 2024 | 3:01 pm
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The Australian federal court ruled against PayPal's unfair contract term with small businesses, leading to overcharging. PayPal has agreed to remove the term and pay ASIC's litigation costs. This legal issue comes during a transition phase for the company.
The ruling against PayPal's unfair contract term could negatively impact investor sentiment in the short term. Although PayPal has cooperated and removed the term, the legal issue and associated costs may weigh on the stock price.
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