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OPEN ALERT: The Klein Law Firm Announces a Lead Plaintiff Deadline of December 6, 2022 in the Class Action Filed on Behalf of Opendoor Technologies Incorporated Shareholders

OPEN

NEW YORK, Dec. 6, 2022 /PRNewswire/ -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Opendoor Technologies Incorporated (NASDAQ: OPEN) alleging that the Company violated federal securities laws.

This lawsuit is on behalf of a class consisting of all persons and entities other than defendants that purchased or otherwise acquired: (a) Opendoor securities between December 21, 2020 and September 16, 2022, both dates inclusive; (b) Opendoor common stock pursuant and/or traceable to documents issued in connection with the business combination between the Company and Opendoor Labs Inc. completed on or about December 18, 2020; (c) Opendoor common stock pursuant and/or traceable to the documents issued in connection with the Company's secondary public offering that was completed on or about February 9, 2021; and/or (d) Opendoor common stock pursuant and/or traceable to the documents issued in connection with the Company's secondary public offering that was completed on or about September 17, 2021.
Lead Plaintiff Deadline: December 6, 2022
No obligation or cost to you.

Learn more about your recoverable losses in OPEN:
https://www.kleinstocklaw.com/pslra-1/opendoor-technologies-incorporated-loss-submission-form?id=34258&from=4

Opendoor Technologies Incorporated NEWS - OPEN NEWS

CLASS ACTION CASE DETAILS: The filed complaint alleges that Opendoor Technologies Incorporated made materially false and/or misleading statements and/or failed to disclose that: (i) the algorithm used by the Company to make offers for homes could not accurately adjust to changing house prices across different market conditions and economic cycles; (ii) as a result, the Company was at an increased risk of sustaining significant and repeated losses due to residential real estate pricing fluctuations; (iii) accordingly, defendants overstated the purported benefits and competitive advantages of the algorithm; (iv) as a result, documents issued in connection with the merger between the Company and Opendoor Labs Inc. and defendants' public statements throughout the class period were materially false and/or misleading and failed to state information required to be stated therein.

WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in Opendoor you have until December 6, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

NO COST TO YOU: If you purchased Opendoor securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.

HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the OPEN lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: https://www.kleinstocklaw.com/pslra-1/opendoor-technologies-incorporated-loss-submission-form?id=34258&from=4.

ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
J. Klein, Esq.
535 Fifth Avenue
4th Floor
New York City, NY 10017
jk@kleinstocklaw.com
Telephone: (212) 616-4899
www.kleinstocklaw.com

Cision View original content:https://www.prnewswire.com/news-releases/open-alert-the-klein-law-firm-announces-a-lead-plaintiff-deadline-of-december-6-2022-in-the-class-action-filed-on-behalf-of-opendoor-technologies-incorporated-shareholders-301695263.html

SOURCE The Klein Law Firm

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