NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until October 5, 2015 to file lead plaintiff applications in a securities class action lawsuit against On Deck Capital, Inc. (NYSE: ONDK) if they purchased the Company’s securities pursuant and/or traceable to On Deck’s Registration Statement and Prospectus issued in connection with the Company’s December 16, 2014 initial public offering (“IPO”). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased shares of On Deck and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by October 5, 2015.
About the Lawsuit
On Deck and certain of its executives are charged with failing to disclose material information in connection with its IPO, violating federal securities laws.
These false statements and omissions included, in part, that: (i) the true rate of default for On Deck’s loan portfolio was steadily increasing; (ii) On Deck's lending practices were shifting to less profitable channels and longer term loans, which were negatively affecting its interest rate spread, effective interest yield, annual percentage rate and earnings; and (iii) as a result of the foregoing, On Deck’s public statements were materially false and misleading at all relevant times.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.