LOS ANGELES--(BUSINESS WIRE)--Goldberg Law PC (www.Goldberglawpc.com) announces that a class action lawsuit has been filed against LendingClub Corporation (“LendingClub” or the “Company”) (NYSE: LC). Investors who purchased or otherwise acquired shares traceable to the Company’s December 11, 2014 Initial Public Offering should contact the firm.
If you are a shareholder who suffered a loss during the Class Period, click here to participate. In addition, we advise you to contact Michael Goldberg or Brian Schall, of Goldberg Law PC, 13650 Marina Pointe Dr. Suite 708, Marina Del Rey, CA 90292, at 800-977-7401, to discuss your rights without cost to you. You can also reach us through the firm’s website at http://www.Goldberglawpc.com, or by email at firstname.lastname@example.org.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the complaint, the Company failed to disclose that: (1) the Company had an unsustainable business model dependent on its ability to issue loans with usurious rates; (2) LendingClub’s loan investors would not be able to enforce the high rates because they were illegal; and (3) absent the usurious rates, the loans produced through LendingClub’s marketplace would not be attractive to investors because they had a high credit risk.
Goldberg Law PC represents shareholders around the world and specializes in securities class actions and shareholder rights litigation.
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