BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of investors of LendingClub Corporation ("LendingClub" or the "Company") (NYSE: LC) concerning the Company and its officers possible violations of federal securities laws. Law Offices of Howard G. Smith is preparing a lawsuit on behalf of injured investors.
LendingClub functions as an online marketplace for bringing together borrowers and investors in the United States. LendingClub promotes many different types of loan products for consumers and small businesses, including unsecured personal loans, super prime consumer loans, unsecured education and patient finance loans.
On December 11, 2015, the Wall Street Journal disclosed that “the California Department of Business Oversight, which oversees securities and lending activity in that state, sent requests to 14 companies for details about their lending practices, investors and business models.” Three days later, on December 14, Tom Dresslar, a representative for the Department of Business Oversight, disclosed that LendingClub is one of the target companies.
Upon this news, shares of LendingClub fell $1.32 per share over two trading sessions, or nearly 10%, to close on December 14, 2015 at $12.84 per share.
If you purchased LendingClub securities, 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at http://www.howardsmithlaw.com.
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