Lead Plaintiff Deadline: December 06, 2022
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(a) securities between December 21, 2020 and September 16, 2022; (b) common stock pursuant and/or traceable to documents issued in connection with the business combination between the Company and Opendoor Labs Inc. completed on or about December 18, 2020; (c) Opendoor common stock pursuant and/or traceable to the documents issued in connection with the Company’s secondary public offering that was completed on or about February 9, 2021; and/or (d) Opendoor common stock pursuant and/or traceable to the documents issued in connection with the Company’s secondary public offering that was completed on or about September 17, 2021
(i) the algorithm used by the Company to make offers for homes could not accurately adjust to changing house prices across different market conditions and economic cycles; (ii) as a result, the Company was at an increased risk of sustaining significant and repeated losses due to residential real estate pricing fluctuations; (iii) accordingly, defendants overstated the purported benefits and competitive advantages of the algorithm; (iv) as a result, documents issued in connection with the merger between the Company and Opendoor Labs Inc. and defendants’ public statements throughout the class period were materially false and/or misleading and failed to state information required to be stated therein.
In order to be included in the lawsuit, you must have incurred a loss on shares of Opendoor purchased or acquired during the class period listed above.
If you suffered a loss in Opendoor during the relevant time frame, you have until December 06, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.