Securities Fraud Investigation Into Wealthfront Corporation (WLTH) Continues – Shareholders Who Lost Money Urged To Contact The Law Offices of Frank R. Cruz
Securities Fraud Investigation Into Wealthfront Corporation (WLTH) Continues – Shareholders Who Lost Money Urged To Contact The Law Offices of Frank R. Cruz
LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz continues its investigation of Wealthfront Corporation (“Wealthfront” or the “Company”) (NASDAQ: WLTH) on behalf of investors concerning the Company’s possible violations of federal securities laws.
IF YOU ARE AN INVESTOR WHO LOST MONEY ON WEALTHFRONT CORPORATION (WLTH), CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING A CLAIM TO RECOVER YOUR LOSS.
What Is The Investigation About?
On January 12, 2026, Wealthfront released its third quarter 2026 financial results, disclosing significant net deposit outflows of $208 million, a sharp reversal from $874 million in inflows during the prior year period. During the associated earnings call, the Company’s CEO, David Fortunato, attributed the slowdown to the interest rate decline, and emphasized the importance of the firm’s newly launched home-lending business to address this trend.
Fortunato also noted he personally owns 95.1% of Wealthfront’s home-lending business and disclosed the Company might “revisit or revise the ownership structure.”
On this news, Wealthfront’s stock price fell $2.12, or 16.8%, to close at $10.47 per share on January 13, 2026, thereby injuring investors.
Then, on June 4, 2026, Wealthfront released its first quarter 2026 financial results, revealing total net deposits had continued to markedly decline, falling 69% year over year, to $554 million. The Company further revealed that its gross profit margin was down year over year due in part to “startup expenses associated with Wealthfront Home Lending.”
On this news, Wealthfront’s stock price fell $1.65, or 14.35%, to close at $9.85 per share on June 5, 2026, thereby injuring investors further.
Contact Us To Participate or Learn More:
If you purchased Wealthfront 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 us:
The Law Offices of Frank R. Cruz,
2121 Avenue of the Stars, Suite 800,
Century City, California 90067
Call us at: 310-914-5007
Email us at: info@frankcruzlaw.com
Visit our website at: www.frankcruzlaw.com.
Follow us for updates on Twitter at twitter.com/FRC_LAW.
If you inquire by email, please include your mailing address, telephone number, and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz
310-914-5007
fcruz@frankcruzlaw.com
www.frankcruzlaw.com
