|Company name||LendingClub Corporation|
|Class period||February 28, 2015 – April 25, 2018|
|Lead plaintiff deadline||July 2, 2018|
|Court||Northern District of California|
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 firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.