Faruqi & Faruqi Reminds Open Lending Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of June 30, 2025
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $75,000 In Open Lending To Contact Him Directly To Discuss Their Options
If you suffered losses exceeding $75,000 in Open Lending between February 24, 2022 and March 31, 2025 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
[You may also click here for additional information]
New York, New York--(Newsfile Corp. - May 2, 2025) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Open Lending Corporation ('Open Lending' or the 'Company') (NASDAQ: LPRO) and reminds investors of the June 30, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
[ This image cannot be displayed. Please visit the source: https://images.newsfilecorp.com/files/6455/250470_f1b04731b45d9914_001full.jpg ]
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants: (1) misrepresented the capabilities of the Company's risk-based pricing models; (2) issued materially misleading statements regarding the Company's profit share revenue; (3) failed to disclose the Company's 2021 and 2022 vintage loans had become worth significantly less than their corresponding outstanding loan balances; and (4) misrepresented the underperformance of the Company's 2023 and 2024 vintage loans. As a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
On March 17, 2025, Open Lending announced the postponement of its earnings release and conference call, both originally scheduled for the same day. The company also filed a Form 12b-25, requesting additional time to finalize its financial statements for its annual 10-K report.
On this news, Open Lending's stock price fell $0.40, or 9.3%, to close at $3.91 per share on March 17, 2025, thereby injuring investors.
Subsequently, on March 31, 2025, Open Lending reported a substantial year-over-year increase in its net loss for Q4 2024, largely attributable to the recognition of a valuation allowance on its deferred tax assets, which elevated its income tax expense for the period. Additionally, the company disclosed significant leadership changes.
On this news, Open Lending's stock price fell $1.59, or 57.61%, to close at $1.17 per share on April 1, 2025, thereby injuring investors.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Open Lending's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
To learn more about the Open Lending Corporation class action, go to www.faruqilaw.com/LPRO or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
Follow us for updates on LinkedIn, on X, or on Facebook.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( www.faruqilaw.com ). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/250470
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
26 minutes ago
- Yahoo
Nasdaq Confirms Full Compliance of HUB Cyber Security with Nasdaq's Listing Standards
TEL AVIV, Israel, June 12, 2025 (GLOBE NEWSWIRE) -- HUB Cyber Security Ltd. (NASDAQ: HUBC) ('HUB' or the 'Company'), a global leader in confidential computing and advanced secured data fabric technology, today announced that it is in full compliance with all applicable listing requirements of the Nasdaq Capital Market. Nasdaq has formally confirmed that HUB satisfies both the minimum bid price and the market value of listed securities (MVLS) thresholds under Listing Rules 5550(a)(5) and 5550(b)(2), the 'Bid Price' and 'MVLS Rules,' respectively. This milestone follows a period of strategic restructuring, improved financial execution, and strengthened corporate governance. Moreover, the Nasdaq Hearings Panel (the 'Panel') has confirmed that HUB has met all exceptions in the Panel's decision in achieving compliance with the Nasdaq Bid Price and MVLS Rules listing standards. In recent quarters, HUB has been executing a focused commercial expansion strategy, significantly growing its contracted revenue base and accelerating deployments across banking, government, and digital asset sectors. The Company has also introduced new AI-powered and quantum-resilient infrastructure solutions, responding with rising client demand for secure, compliant, and sovereign-grade solutions. HUB continues to sign new multi-year agreements with leading financial institutions and sovereign entities, while expanding its presence in North America and Europe. With momentum building across both public and private sector channels, HUB is positioned as a critical infrastructure provider to the world's most security-sensitive organizations. About HUB Cyber Security Ltd. (NASDAQ: HUBC) HUB Cyber Security Ltd. ('HUB' or the 'Company') was established in 2017 by veterans of the elite intelligence units of the Israeli Defense Forces. The Company is a global leader in secured data infrastructure and confidential computing. Its Secured Data Fabric platform powers secure AI operations, compliance automation, and digital asset protection for financial institutions, governments, and regulated enterprises. HUB also specializes in unique cyber security solutions protecting sensitive commercial and government information. The Company debuted an advanced encrypted computing solution to prevent hostile intrusions at the hardware level while introducing a novel set of data theft prevention solutions. HUB operates in over 30 countries and provides innovative cybersecurity computing appliances and a wide range of cybersecurity services worldwide. Hub's Secured Data Fabric is a revolutionary product developed in partnership with its subsidiary, BlackSwan Technologies, that is emerging as a leader in highly secure data management and unification. Forward-Looking Statements This press release contains forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are typically identified by words such as 'plan,' 'believe,' 'expect,' 'anticipate,' 'intend,' 'outlook,' 'estimate,' 'future,' 'forecast,' 'project,' 'continue,' 'could,' 'may,' 'might,' 'possible,' 'potential,' 'predict,' 'seem,' 'should,' 'will,' 'would' and other similar words and expressions, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements are based on the current expectations of the management of HUB, as applicable, and are inherently subject to uncertainties and changes in circumstances and their potential effects and speak only as of the date of such statement. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties, or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those discussed and identified in public filings made with the SEC by HUB and the following: (i) significant uncertainty regarding the adequacy of HUB's liquidity and capital resources and its ability to repay its obligations as they become due; (ii) the war between Israel and Hamas commenced in October 2023, which may harm Israel's economy and HUB's business; (iii) expectations regarding HUB's strategies and future financial performance, including its future business plans or objectives, prospective performance and opportunities and competitors, revenues, products and services, pricing, operating expenses, market trends, liquidity, cash flows and uses of cash, capital expenditures, and HUB's ability to invest in growth initiatives and pursue acquisition opportunities; (iv) the outcome of any legal or regulatory proceedings against HUB in connection with our previously announced internal investigation or otherwise; (v) the ability to cure and meet stock exchange continued listing standards and remain listed on the Nasdaq; (vi) competition, the ability of HUB to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (vii) limited liquidity and trading of HUB's securities; (viii) geopolitical risk, including military action and related sanctions, and changes in applicable laws or regulations; (ix) the possibility that HUB may be adversely affected by other economic, business, and/or competitive factors; (x) other risks and uncertainties set forth in the sections entitled 'Risk Factors' and 'Cautionary Statement Regarding Forward-Looking Statements' in HUB's Annual Report on Form 20-F filed on May 1, 2025. Should one or more of these risks or uncertainties materialize or should any of the assumptions made by the management of HUB prove incorrect, actual results may vary in material respects from those expressed or implied in these forward-looking statements. All subsequent written and oral forward-looking statements concerning the business combination or other matters addressed in this press release and attributable to HUB or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in the press release. Except to the extent required by applicable law or regulation, HUB undertakes no obligation to update these forward-looking statements to reflect events or circumstances after the date of this press release to reflect the occurrence of unanticipated events. Investor Relations Lytham PartnersBen Shamsian646-829-9701shamsian@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Fast Company
27 minutes ago
- Fast Company
Chime IPO: Stock price today as financial services startup makes closely watched Nasdaq debut
Chime Financial is expected to debut on the Nasdaq today. The fintech company's initial public offering (IPO) is one of the most anticipated of 2025, and investors and market watchers will be eagerly waiting to see how the newly public stock performs on its first day of trading. If it performs well, it could signal positive investor appetite for technology public offerings and the IPO market as a whole. Here's what to know about Chime's IPO. What is Chime? Chime Financial, Inc. is a fintech company. It was founded in 2012 and is based in San Francisco. The company offers banking products without the associated fees that traditional banks tack onto accounts. For example, many of Chime's online banking services don't have a minimum balance, or monthly service or overdraft fees. These fees are major drivers of revenue at traditional banks. So how does Chime generate revenue without them? The company says its business model is primarily based on interchange fees, which are the fees that merchants pay when they accept a card payment. Chime's services can be accessed on the web and also via iPhone and Android apps. Chime is not a bank but rather offers banking services. It has partnerships with Bancorp Bank and Stride Bank. A diminished market cap With Chime's IPO, the company is now valued at approximately $11.6 billion, according to CNBC. However, that is less than half of its peak private valuation of $25 billion in 2021. In that year, Chime received a funding round of $750 million. One reason for Chime's high private valuation in 2021, relative to its valuation today, was the pandemic. As Fast Company previously noted, in the early 2020s, fintech companies experienced a surge in service usage from consumers and garnered significant attention from investors as the pandemic unfolded. Much of that excitement for companies operating in the fintech space has subsided in subsequent years. The market turmoil of 2025 has also made investors more cautious about companies operating in the finance sector and initial public offerings in general. In May, another fintech company, the online brokerage firm eToro Group (Nasdaq: ETOR), went public for $52 per share. As of yesterday's close, ETOR shares are trading at $62.96 per share. Chime by the numbers On May 13, Chime filed a Form F-1 with the U.S. Securities and Exchange Commission (SEC). In the F-1 filing, Chime reported the following metrics as of March 31, 2025: Active Chime members: 8.6 million Active member growth rate since Q1 2022: 82% Purchase volume: $121 billion Average revenue per active member (ARPAM): $251 Gross margin: 88% Transaction margin: 67% When is Chime's IPO? Chime priced its shares on Wednesday and is expected to begin trading today: Thursday, June 12, 2025. What is Chime's stock ticker? Chime's stock ticker is 'CHYM.' What exchange will Chime shares trade on? Chime shares trade on the Nasdaq Global Select Market. What is the IPO share price of CHYM? Chime's IPO price is $27 per share. That's higher than the expected IPO price of between $24 and $26. The higher IPO price of $27 per share suggests that Chime believes there is a greater appetite for its shares than previously thought. How many CHYM shares are available in its IPO? According to a company press release, a total of 32 million CHYM were made available in its IPO. Of those shares, Chime offered 25,900,765 Class A shares directly to the public. Existing company shareholders put up the remaining 6,099,235 shares. How much did Chime raise in its IPO? Chime raised approximately $700 million in its initial public offering. That consists of the proceeds from the 25.9 million shares the company sold directly. Chime did not benefit from the sale of the 6 million shares sold by its existing shareholders. How much is Chime worth? At its $27 IPO price, Chime's market cap is now valued at approximately $11.6 billion. What else is there to know? Chime is the latest in a number of closely watched tech-focused IPOs this year. In addition to the aforementioned eToro, stablecoin company Circle Internet Group went public earlier this month. Both stocks have performed well since their debut, raising hopes for the IPO market more broadly.
Hamilton Spectator
27 minutes ago
- Hamilton Spectator
Sportradar Expands Industry-Leading Soccer Portfolio with FIFA Club World Cup 2025 Rights
ST. GALLEN, Switzerland and LONDON, June 12, 2025 (GLOBE NEWSWIRE) — Strengthening its leading global soccer offering, Sportradar Group AG (NASDAQ: SRAD) and DAZN today announced a partnership to secure exclusive rights to distribute ultra-low latency betting data, as well as non-exclusive media content, from the FIFA Club World Cup 2025, held June 14 through July 13, in the U.S. and broadcast globally by DAZN. Through this agreement, Sportradar will deliver data and content, including live odds, across all 63 tournament matches from DAZN to its global network of more than 800 betting operator clients and 900 media companies. Already providing coverage of over 150,000 matches annually across 900+ soccer leagues, Sportradar offers the industry's deepest, most comprehensive soccer portfolio, enabling its partners to engage fans with premium, real-time insights and in-play experiences. Additionally, Sportradar will have access to deep tracking data from the FIFA Club World Cup 2025 to offer an extensive range of micro and player markets, including up to 190 pre-match and 200 in-play betting markets, as well as power live match trackers. Sportradar will also safeguard the tournament from corruption under its longstanding bet monitoring agreement with FIFA through its advanced AI-driven Universal Fraud Detection System (UFDS) for comprehensive real-time betting market surveillance. Moritz Gloeckler, EVP, Rights & Strategic Projects, Sportradar, said: 'We are thrilled to partner with DAZN to elevate the FIFA Club World Cup 2025 to new heights, expanding global reach, captivating new audiences and deepening engagement with fans worldwide. At the same time, we remain committed to upholding the integrity of this prestigious competition.' About Sportradar Sportradar Group AG (NASDAQ: SRAD), founded in 2001, is a leading global sports technology company creating immersive experiences for sports fans and bettors. Positioned at the intersection of the sports, media and betting industries, the Company provides sports federations, news media, consumer platforms and sports betting operators with a best-in-class range of solutions to help grow their business. As the trusted partner of organizations like the ATP, NBA, NHL, MLB, NASCAR, UEFA, FIFA, and Bundesliga, Sportradar covers close to a million events annually across all major sports. With deep industry relationships and expertise, Sportradar is not just redefining the sports fan experience, it also safeguards sports through its Integrity Services division and advocacy for an integrity-driven environment for all involved. For more information about Sportradar, please visit About DAZN As a world-leading sports entertainment platform, DAZN streams over 90,000 live events annually and is available in more than 200 markets worldwide. DAZN is the global home of the FIFA Club World Cup and will be broadcasting all 63 matches in multiple languages on a free to air basis. DAZN is the global home of European football, women's football, boxing and MMA, as well as the NFL internationally. The platform features the biggest sports and leagues from around the world – Bundesliga, Serie A, LALIGA, Ligue 1, Formula 1, NBA, Moto GP, and many more, including FIFA Club World Cup 2025. DAZN is transforming the way people enjoy sport. With a single, frictionless platform, sports fans can watch, play, buy, and connect. Live and on-demand sports content, anywhere, in any language, on any device – only on DAZN. DAZN is a global, privately-owned company, founded in 2016, with more than 3,000 employees. For more information on DAZN, our products, people, and performance, visit . CONTACT: Media: Sportradar : Sandra Lee DAZN : Alice Vyvyan Investor Relations: Jim Bombassei
