An investigation on behalf of current long term investors in Opendoor Technologies Inc. (NASDAQ:OPEN) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 02/16/2023 -- Certain directors of Opendoor Technologies Inc. are under investigation concerning potential breaches of fiduciary duties.
Investors who are current long term investors in Opendoor Technologies Inc. (NASDAQ: OPEN) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm for investors in NASDAQ: OPEN stocks follows a lawsuit filed against Opendoor Technologies Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: OPEN stocks, concerns whether certain Opendoor Technologies Inc. directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that, the Defendants made false and/or misleading statements and/or failed to disclose that the algorithm ("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, that as a result, the Company was at an increased risk of sustaining significant and repeated losses due to residential real estate pricing fluctuations, that accordingly, Defendants overstated the purported benefits and competitive advantages of the Algorithm, and that as a result, the Offering Documents and Defendants' public statements December 21, 2020 and September 16, 2022, were materially false and/or misleading and failed to state information required to be stated therein.
Those who purchased shares of Opendoor Technologies Inc. (NASDAQ: OPEN) 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
About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.