NEW YORK, May 18, 2016 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of LendingClub
Corporation (“LendingClub”) (NYSE:LC) pursuant to
and/or traceable to the Registration Statement and Prospectus issued in connection with the Initial Public Offering on or about
December 11, 2014 or who purchased shares from December 11, 2014 through May 6, 2016. You are hereby
notified that a securities class action lawsuit has been commenced in the USDC for the Northern District of California. To
get more information go to:
http://www.zlk.com/pslra/lendingclub
or contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free:
(877) 363-5972. There is no cost or obligation to you.
The complaint alleges that throughout the Class Period defendants issued false and misleading statements to
investors and/or failed to disclose that: (1) LendingClub’s internal controls were inadequate to ensure that LendingClub’s loans
conformed to its customers’ criteria; (2) LendingClub’s internal controls were inadequate to ensure that relevant interests in
third-party transactions were fully and timely disclosed; and (3) as a result, LendingClub’s public statements were materially
false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered
damages.
If you suffered a loss in LendingClub you have until July 15, 2016 to request that the Court appoint you as lead plaintiff. Your ability
to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut, and
Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and
have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee
similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph E. Levi, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.com
