An investigation on behalf of current long term investors in loanDepot, Inc. (NYSE:LDI) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 09/08/2022 -- Certain directors of loanDepot, Inc. are under investigation concerning potential breaches of fiduciary duties.
Investors who are current long term investors in loanDepot, Inc. (NYSE: LDI) 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 NYSE: LDI stocks follows a lawsuit filed against loanDepot, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: LDI stocks, concerns whether certain loanDepot, Inc. directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that the Registration Statement that was filed in connection with loanDepot's initial public offering ("IPO") failed to disclose that loanDepot's loan originations had already declined substantially at the time of the IPO due to industry over-capacity and increased competition, that loanDepo's gain-on-sale margins had already declined substantially at the time of the IPO, that, as a result, the Company's revenue and growth would be negatively impacted, that that loanDepot had already been forced to embark on a significant expense reduction plan due to the significantly lower growth and refinance originations that the Company was experiencing, and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Those who purchased shares of loanDepot, Inc. (NYSE: LDI) have certain options and should contact the Shareholders Foundation.
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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.