Energy News / Shareholders Foundation, Inc.

Deadline Upcoming in $125 Million Settlement in the LendingClub Corp (NYSE:LC) Investor Lawsuit

Via: ReleaseWire

Updated 12:00 PM CDT, Tue, June 05,2018

A settlement was reached with the defendants in the lawsuit filed on behalf of certain investors of LendingClub Corp (NYSE: LC) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on June 25, 2018 and NYSE: LC investors should contact the Shareholders Foundation.

San Diego, CA -- (SBWIRE) -- 06/05/2018 -- A deadline is coming up on June 25, 2018 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of LendingClub Corp (NYSE: LC) between December 10, 2014 and May 6, 2016.

Investors who purchased a significant amount of shares of LendingClub Corp (NYSE: LC) between December 10, 2014 and May 6, 2016, have certain options and should contact the Shareholders Foundation by email at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The settlement proof of claim form or detailed settlement notice for the settlement in the LendingClub Corp (NYSE: LC) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/lendingclub-corp-nyse-lc-investor-securities-class-action-lawsuit-05162016

In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is June 25, 2018. The class action administrator for this case is Gilardi & Co LLC.

The lawsuit was originally filed in the U.S. District Court for the Northern District of California over alleged violations of Federal Securities Laws by LendingClub Corp in connection with certain allegedly false and misleading statements made between December 11, 2014 and May 6, 2016.

According to the complaint the plaintiff alleges on behalf of purchasers of LendingClub Corp (NYSE: LC) securities pursuant and/or traceable to LendingClub Corp's Registration Statement and Prospectus issued in connection with the Company's initial public offering on or about December 11, 2014 (the "IPO" or the "Offering") and/or on behalf of purchasers of LendingClub Corp (NYSE: LC) securities on the open market between December 11, 2014 and May 6, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between December 11, 2014 and May 6, 2016 Defendants made false and/or misleading statements and/or failed to disclose that LendingClub Corp's internal controls were inadequate to ensure that LendingClub Corp's loans conformed to its customers' criteria, that LendingClub's internal controls were inadequate to ensure that relevant interests in third-party transactions were fully and timely disclosed, and that as a result of the foregoing, LendingClub Corp's public statements were materially false and misleading at all relevant times.

Those who purchased shares of LendingClub Corp (NYSE: LC) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

For more information on this press release visit:
http://www.sbwire.com/press-releases/deadline-upcoming-in-125-million-settlement-in-the-lendingclub-corp-nyselc-investor-lawsuit-989664.htm

Media Relations Contact
Michael Daniels
858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com