SAN FRANCISCO, May 07, 2018 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP alerts investors in LendingClub
Corporation (NYSE:LC) to the July 2, 2018 Lead Plaintiff deadline in the securities class action pending in the
United States District Court for the Northern District of California. If you purchased or otherwise acquired securities of
LendingClub between February 28, 2015 and April 25, 2018 and suffered losses contact Hagens Berman Sobol Shapiro
LLP. For more information visit:
https://www.hbsslaw.com/cases/LC
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing
LC@hbsslaw.com.
On April 25, 2018 the Federal Trade Commission charged LendingClub with falsely promising consumers they would receive a loan
with “no hidden fees,” when, in actuality, the company deducted hundreds or even thousands of dollars in hidden up-front fees from
the loans.
This news drove the price of LendingClub shares down $0.49, or about 15%, to close at $2.77 that day.
“We’re focused on evidence unearthed by the FTC, including internal compliance reviews apparently citing the concealment of the
fee as a significant problem for consumers,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding LendingClub should consider their options
to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who
provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For
more information, call Reed Kathrein at 510-725-3000 or email LC@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with 70+ attorneys in 11 offices across
the country. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the
firm and its successes can be found at www.hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Contact:
Reed Kathrein, 510-725-3000
