SAN DIEGO--(BUSINESS WIRE)--Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating potential violations of the federal securities laws by On Deck Capital, Inc. (NYSE: ONDK) and certain of its officers and directors. On Deck provides financing products to small businesses in the United States. It offers fixed term loans and revolving lines of credit.
Specifically, Johnson & Weaver’s investigation seeks to determine whether certain statements regarding On Deck’s business and prospects were false and misleading when made.
On December 17, 2014, On Deck stock opened for trading at $23.24, the same day that the Company sold 11.5 million shares of stock in its initial public stock offering (the “IPO”). However, just six months after its IPO, On Deck common stock has dropped below $12 per share, a decline of over 40% from the IPO price and a nearly 60% decline from its approximately $28 per share high. On Deck’s stock price decline has resulted from Company issued press releases along with analysts’ reports regarding shifts in its lending practices to less profitable channels and longer term loans and the resulting material adverse effects on the Company’s interest rate spread earnings.
If you have information that could assist in this investigation, or if you are an On Deck shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker (email@example.com) by email or by phone at 619-814-4471. If emailing, please include a phone number where you can be reached.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.