An investigation for investors in LendingClub Corp (NYSE:LC) shares over potential securities laws violations by LendingClub was announced and NYSE:LC stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 02/17/2016 -- An investigation for shareholders in LendingClub Corp over potential securities laws violations by LendingClub over certain financial statements was announced.
Shares of LendingClub Corp (NYSE:LC) declined from $25.74 per share in December 2014 to as low as $6.68 per share on January 20, 2016.
Investors who purchased shares of LendingClub Corp (NYSE:LC), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of LendingClub Corp (NYSE:LC) concerning whether a series of statements by LendingClub Corp regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On December 11, 2015, it was reported that "the California Department of Business Oversight, which oversees securities and lending activity in that state, sent requests to 14 companies for details about their lending practices, investors and business models." It was then reported that on December 14 a spokesman for the Department of Business Oversight, sent out an email naming LendingClub as one of the 14 companies.
On February 12, 2016, NYSE:LC shares closed at $7.04per share.
Those who purchased shares of) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com