WASHINGTON--(BUSINESS WIRE)--U.S. Market Advisors Law Group PLLC announces the firm is investigating whether LendingClub Corp. (NYSE:LC) violated federal securities laws. The investigation involves investors that purchased LendingClub common stock between February 28, 2015 and April 25, 2018.
USMA Law Group is preparing for a securities fraud class action against LendingClub. The firm’s LendingClub webpage provides a proposed class action complaint (not yet filed) and other important information: http://usmarketlaw.com/lendingclub/. You may also contact David P. Abel, Managing Attorney of USMA Law Group, to discuss this matter at no obligation or cost: (202) 274-0237; firstname.lastname@example.org.
On April 25, 2018, the Federal Trade Commission announced that it had filed an action against LendingClub, alleging violations of: (i) the FTC Act for falsely assuring customers they would receive a loan with “no hidden fees”; and (ii) the Gramm-Leach-Bliley-Act for failing to provide customers with a clear and conspicuous privacy notice so they could reasonably be expected to receive actual notice.
As a result, the price of LendingClub’s common stock declined over 15% per share from its previous closing price to close at $2.77 per share on April 25, 2018, damaging investors.
Visit USMA Law Group’s LendingClub investigation webpage for more: http://usmarketlaw.com/lendingclub/.
About USMA Law Group
USMA Law Group is a national law firm based in the District of Columbia. The firm represents investors in antitrust, securities and shareholder litigation. To learn more, visit www.usmarketlaw.com.