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.
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