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UPST LAWSUIT ALERT: Levi & Korsinsky Notifies Upstart, Inc. Investors of a Class Action Lawsuit and Upcoming Deadline

UPST

NEW YORK, June 23, 2022 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Upstart, Inc. ("Upstart" or the "Company") (NASDAQ: UPST) of a class action securities lawsuit.

Levi & Korsinsky, LLP (PRNewsfoto/Levi & Korsinsky, LLP)

CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Upstart investors who were adversely affected by alleged securities fraud between March 18, 2021 and May 9, 2022. Follow the link below to get more information and be contacted by a member of our team:

https://www.zlk.com/pslra-1/upstart-inc-loss-submission-form?prid=28959&wire=4

UPST investors may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.

CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (1) Upstart's AI model could not adequately account for macroeconomic factors such as interest rates that impact the market-clearing price for loans; (2) as a result, Upstart was experiencing a negative impact on its conversion rate; (3) as a result, the Company was reasonably likely to use its balance sheet to fund loans; and (4) as a result of the foregoing, defendants' positive statements about the Company's business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.

WHAT'S NEXT? If you suffered a loss in Upstart during the relevant time frame, you have until July 12, 2022 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.

NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.

WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/upst-lawsuit-alert-levi--korsinsky-notifies-upstart-inc-investors-of-a-class-action-lawsuit-and-upcoming-deadline-301573373.html

SOURCE Levi & Korsinsky, LLP



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