NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of LendingClub Corporation (NYSE:LC) and purchasers of LendingClub’s Member Payment Dependent Notes resulting from allegations that LendingClub may have issued materially misleading business information to the investing public.
On April 25, 2018, the Federal Trade Commission (“FTC”) announced that it charged LendingClub with “falsely promising consumers they would receive a loan with ‘no hidden fees,’ when, in actuality, the company deducted hundreds or even thousands of dollars in hidden up-front fees from the loans.” The FTC’s complaint alleges that LendingClub violated the FTC Act and the Gramm-Leach-Bliley Act. On this news, shares of LendingClub fell $0.49 per share or over 15% to close at $2.77 per share on April 25, 2018.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by LendingClub investors. If you purchased shares of LendingClub please visit the firm’s website at http://www.rosenlegal.com/cases-1328.html to join the class action. You may also contact Phillip Kim or Zachary Halper of Rosen Law Firm toll free at 866-767-3653 or via email at email@example.com or firstname.lastname@example.org.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. The Rosen Law Firm was Ranked No. 1 by Institutional Shareholder Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013.
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