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Scott+Scott, Attorneys at Law, LLP Announces Investigation of LendingClub Corporation (LC)

LC

Scott+Scott, Attorneys at Law, LLP (“Scott+Scott”), a national shareholder and consumer rights litigation firm, announces the commencement of an investigation into LendingClub Corporation (NYSE:LC) (“LendingClub”) related to potential violations of federal securities laws. If you are a LendingClub shareholder, you are encouraged to contact Scott+Scott for additional information.

LendingClub (NYSE:LC) operates as an online marketplace for connecting borrowers and investors in the United States. LendingClub facilitates various 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 reported 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.” Then, on December 14, Tom Dresslar, a spokesman for the Department of Business Oversight, sent out an email naming LendingClub as one of the 14 companies.

On this news, shares of LendingClub had fallen from $14.16 on Dec. 10th to $12.84 a share on Dec. 14th, a drop of over 9%.

What You Can Do

If you are a LendingClub shareholder and you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Joseph Halloran at (800) 404-7770 or (646) 582-0121 or at or jhalloran@scott-scott.com.

About Scott+Scott, Attorneys at Law, LLP

Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide.

Scott+Scott, Attorneys at Law, LLP
Joseph V. Halloran, (646) 582-0121
jhalloran@scott-scott.com