Company name LendingClub Corporation
Stock symbol LC
Class period February 28, 2015 – April 25, 2018
Lead plaintiff deadline July 2, 2018
Court Northern District of California
Status Under Investigation

NEW YORK, May 4, 2018 – Bragar Eagel & Squire, P.C. announces to investors that a class action lawsuit has been filed in the U.S. District Court for the Northern District of California on behalf of all persons or entities who purchased or otherwise acquired LendingClub Corporation (NYSE: LC) securities between February 28, 2015 and April 25, 2018 (the “Class Period”).  Investors have until July 2, 2018 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

On Wednesday April 25, the Federal Trade Commission filed a complaint against LendingClub, in which it alleged that the upfront fee LendingClub charges is “not clearly and conspicuously disclosed” and that “consumers frequently complain that they only discovered the fee…when they noticed that the amounts disbursed were smaller than they were expecting.”

Following this news, shares of LendingClub fell $0.49 per share, or almost 15%, to close at $2.77 per share on April 25, 2018.

If you purchased or otherwise acquired LendingClub securities during the Class Period or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.

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Call to provide more information: Tel: (212) 308-5858

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The submission of this form does not create an attorney-client relationship, nor any obligation on the part of Bragar Eagel & Squire, P.C., or you to file a legal action. Any information you submit will be maintained as confidential. If Bragar Eagel & Squire, P.C., in its sole discretion, believes that you might be an appropriate class representative, Bragar Eagel & Squire, P.C., will contact you to discuss the matter and to determine whether to establish an attorney client relationship.