Philadelphia, Pennsylvania--(Newsfile Corp. - April 15, 2024) - Kaskela Law LLC announces that it is investigating Oportun Financial Corp. (NASDAQ: OPRT) on behalf of the company's investors.
On November 6, 2023, Oportun reported disappointing financial and operational results for the Third Quarter of Fiscal 2023, including quarterly adjusted earnings per share ("EPS") of negative $0.46 per share due, in large part, to a reduction in the fair value of certain loans. Further, Oportun reported adjusted EBITDA of just $16 million for the quarter, which "fell well short of the $35 million to $40 million range" the company provided to investors just three months prior.
Following this news, shares of Oportun's stock fell $2.85 per share, or 49% in value, to close on November 7, 2023 at $2.97 per share, on unusually heavy trading volume.
The investigation seeks to determine whether Oportun and/or the company's officers and directors violated the securities laws or breached their fiduciary duties to the company's shareholders.
Oportun shareholders are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at (484) 229 - 0750 or (888) 715 - 1740, or by email (skaskela@kaskelalaw.com / abell@kaskelalaw.com) or online at https://kaskelalaw.com/cases/oportun-financial-corp/ , for additional information about this investigation and their legal rights and options.
Kaskela Law LLC exclusively represents investors in securities fraud, corporate governance, and merger & acquisition litigation on a contingent basis. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.
CONTACT:
KASKELA LAW LLC
D. Seamus Kaskela, Esq.
Adrienne Bell, Esq.
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(888) 715 - 1740
(484) 229 - 0750
www.kaskelalaw.com
This notice may constitute attorney advertising in certain jurisdictions.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/205459
