SAN DIEGO & SAN FRANCISCO--(BUSINESS WIRE)--Shareholder rights law firm Robbins Arroyo LLP announces that a lawsuit was filed against LendingClub Corporation (NYSE: LC) in the U.S. District Court for the Northern District of California in May 2016, alleging that the company misled investors about its compliance practices. On May 27, 2017, the court denied LendingClub's motion to dismiss the case, noting that investors had adequately pointed out misleading elements of LendingClub's registration statement, including supposed weaknesses in its financial reporting and poor data integrity protocols, among other things. LendingClub, together with its subsidiaries, operates as an online marketplace that connects borrowers and investors in the United States.
View this press release on the firm's Shareholder Rights Blog: www.robbinsarroyo.com/shareholders-rights-blog/lendingclub
LendingClub Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leonid Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
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