LOS ANGELES--(BUSINESS WIRE)--GPM LLP announces that it is investigating potential claims on behalf of investors of On Deck Capital, Inc. (“On Deck” or the “Company”) (NYSE: ONDK) concerning the Company’s and its officers’ possible violations of federal securities laws.
On Deck provides financing products to medium and small businesses in the United States. It offers fixed term loans and revolving line of credit, the company mainly processes and services its loans through its online platform. On December 16, 2014, On Deck priced its initial public offering (“IPO”) at $20.00, and sold 11.5 million shares of stock.
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, following news reports of rising default rates in On Deck’s loan portfolios, and the declining value of its business model.
If you purchased shares of On Deck, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy of GPM LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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