An investigation on behalf of investors in loanDepot, Inc. (NYSE:LDI) shares over potential wrongdoing at loanDepot, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 10/20/2022 -- An investigation was announced for long-term investors in shares of loanDepot, Inc. (NYSE: LDI) over potential breaches of fiduciary duties by certain directors at loanDepot, Inc. .
Investors who purchased shares of loanDepot, Inc. (NYSE: LDI) have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain loanDepot officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
The lawsuit against the directors over alleged breaches of fiduciary duties follows a lawsuit that was filed against loanDepot, Inc. over alleged securities laws violations. According to that complaint filed in the U.S. District Court for the Central District of California 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.