PR Newswire
BOSTON, May 12, 2016
BOSTON, May 12, 2016 /PRNewswire/ -- Block & Leviton
LLP (www.blockesq.com), a securities litigation firm
representing investors nationwide, is investigating whether Lending Club (NYSE: LC) and certain of its officers and directors
have violated federal securities laws following the news today that the company's Chief Executive Officer, Renaud Laplanche, has abruptly resigned.
Lending Club shares were down over 40% this week after it was reported that a board review found that the company sold an
investor $22 million in subprime, low credit score loans, despite the fact that these loans
violated the express instructions of the investor. It was further reported that three other senior executives have been
terminated and that Lending Club was forced to repurchase these subprime loans at par.
If you have purchased or otherwise acquired LC securities on or before May 9, 2016 and have
questions about your legal rights or possess information relevant to this investigation, please contact attorney Jake Walker at (617) 398-5600 or by email at jake@blockesq.com. Confidentiality to whistleblowers or others with information relevant to the lawsuit is
assured.
Block & Leviton LLP is a Boston-based law firm representing investors nationwide. The
firm's lawyers have collectively been prosecuting securities cases on behalf of individual and institutional investors for over
70 years, and have recovered billions of dollars on their behalf. Block & Leviton's investigations into corporate wrongdoing
were recently covered by the New York Times.
This notice may constitute attorney advertising.
CONTACT:
Block & Leviton LLP
Jacob Walker
155 Federal Street, Suite 400
Boston, MA 02110
(617) 398-5600
jake@blockesq.com
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SOURCE Block & Leviton LLP