NEW YORK, May 10, 2018 (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) between February 28, 2015 and April 25, 2018.
You are hereby notified that a securities class action lawsuit has been commenced in the United States
District Court for the Northern District of California. To get more information go to:
http://www.zlk.com/pslra-d/lendingclub-lc?wire=3
or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.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 materially false and/or misleading
statements and/or failed to disclose that: (1) LendingClub falsely promised consumers they would receive a loan with "no hidden
fees"; (2) LendingClub's privacy policy did not comply with the Gramm-Leach-Bliley Act; (3) consequently, the foregoing conduct
would subject LendingClub's business practices to heightened regulatory scrutiny by the Federal Trade Commission ("FTC"); and (4)
as a result, Defendants’ public statements were materially false and misleading at all relevant times.
On April 25, 2018, the FTC issued a press release announcing allegations that LendingClub violated the FTC Act
and the Gramm-Leach-Bliley Act by falsely promising consumers they would receive a loan without hidden fees and failing to provide
customers with a clear and conspicuous privacy notice.
If you suffered a loss in LendingClub you have until July 2, 2018 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, 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
