An investigation on behalf of current long term investors in Upstart Holdings, Inc. (NASDAQ:UPST) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 09/14/2022 -- Certain directors of Upstart Holdings, Inc. are under investigation over potential breaches of fiduciary duties.
Investors who are current long term investors in Upstart Holdings, Inc. (NASDAQ: UPST) shares, have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm for investors in NASDAQ: UPST stocks follows a lawsuit filed against Upstart Holdings, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: UPST stocks, concerns whether certain Upstart Holdings, Inc. directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that the Defendants failed to disclose to investors that Upstart's AI model could not adequately account for macroeconomic factors such as interest rates that impact the market-clearing price for loans, that, as a result, Upstart was experiencing negative impact on its conversion rate, that, as a result, the Company was reasonably likely to use its balance sheet to fund loans; and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.
Those who purchased shares of Upstart Holdings, Inc. (NASDAQ: UPST) have certain options and should contact the Shareholders Foundation.
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