Levi & Korsinsky, LLP announces the filing of a class action lawsuit in the Northern District of California on behalf of shareholders of LendingClub Corporation (NYSE: LC) who purchased shares pursuant and/or traceable to the Company’s Initial Public Offering on or about December 11, 2014 or who purchased shares from December 11, 2014 through May 6, 2016.
The complaint alleges that throughout the Class Period defendants issued false and misleading statements to investors and/or failed to disclose that: (1) LendingClub’s internal controls were inadequate to ensure that LendingClub’s loans conformed to its customers’ criteria; (2) LendingClub’s internal controls were inadequate to ensure that relevant interests in third-party transactions were fully and timely disclosed; and (3) as a result, LendingClub’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
If you suffered a loss in LendingClub you have until July 15, 2016 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.
To receive more information, please fill out the form.