Latest news with #OpenLending
Associated Press
4 days ago
- Business
- Associated Press
INVESTOR ALERT: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Open Lending
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. - June 4, 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: ] 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 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 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 ( ). 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
Business Wire
4 days ago
- Business
- Business Wire
LPRO INVESTOR ALERT: Kirby McInerney LLP Notifies Open Lending Corporation Investors of Upcoming Lead Plaintiff Deadline in Class Action Lawsuit
NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP reminds investors of the June 30, 2025, deadline to seek the role of lead plaintiff in a federal securities class action filed on behalf of investors who acquired Open Lending Corporation ('Open Lending' or the 'Company') (NASDAQ:LPRO) securities during the period from February 24, 2022, through March 31, 2025 ('the Class Period'). On March 17, 2025, before the market opened, Open Lending disclosed that it would be unable to timely file its Annual Report for 2024 as it 'require[d] additional time to finalize its accounting and review processes specifically related to its profit share revenue and related contract assets.' On this news, the price of Open Lending shares declined by $0.40 per share, from $4.31 per share on March 14, 2025, to close at $3.91 on March 17, 2025. Then, on March 31, 2025, Open Lending released its fourth quarter and full year 2024 financial results, revealing quarterly revenue of negative $56.9 million due in part to 'a $81.3 million reduction in estimated profit share revenues related to business in historic vintages …primarily due to heightened delinquencies and corresponding defaults associated with loans originated in 2021 through 2024.' The Company identified 'three factors primarily contributed to this reduction of estimated profit share.' First, a 'deterioration of the Company's 2021 and 2022 vintages' resulting in loans which were 'worth significantly less than their corresponding outstanding loan balances.' This factor accounted for 'approximately 40% of the Company's total negative change.' Second, the Company 'identified two cohorts of borrowers, borrowers with credit builder tradelines and borrowers with fewer positive tradelines, that caused its 2023 and 2024 vintages to underperform.' This factor 'accounted for approximately 40% of the Company's total negative change.' Third, the Company revealed 'continued elevated delinquencies and ultimate defaults' which 'accounted for approximately 20% of the Company's total negative change.' Additionally, the Company disclosed a net loss of $144 million, due to the Company being 'negatively impacted by the recording of a valuation allowance on [its] deferred tax assets of $86.1 million, which increased [its] income tax expense during the period. In a separate press release on the same day, Open Lending also announced that it had appointed a new Chief Executive Officer and a new Chief Operating Officer, effective immediately, both of whom would be replacing Charles D. Jehl, who had been operating as the Company's Chief Executive Officer, Chief Operating Officer and Chief Financial Officer simultaneously. On this news, the price of Open Lending shares declined by $1.59 per share, or approximately 57%, from $2.76 per share on March 31, 2025, to close at $1.17 on April 1, 2025. The complaint alleges that, throughout the Class Period, 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; (4) misrepresented the underperformance of the Company's 2023 and 2024 vintage loans. If you purchased or otherwise acquired Open Lending securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@ or fill out the form below, to discuss your rights or interests with respect to these matters without any cost to you. Kirby McInerney LLP is a New York-based plaintiffs' law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm's efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP's website. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Associated Press
28-05-2025
- Business
- Associated Press
ROSEN, LEADING TRIAL ATTORNEYS, Encourages Open Lending Corporation Investors to Secure Counsel Before Important Deadline in Securities Class Action
New York, New York--(Newsfile Corp. - May 27, 2025) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Open Lending Corporation (NASDAQ: LPRO) between February 24, 2022 and March 31, 2025, both dates inclusive (the 'Class Period'), of the important June 30, 2025 lead plaintiff deadline. SO WHAT: If you purchased Open Lending securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. WHAT TO DO NEXT: To join the Open Lending class action, go to or call Phillip Kim, Esq. at 866-767-3653 or email [email protected] for more information. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than June 30, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers. DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, defendants made materially false and/or misleading statements, as well as failed to disclose materially adverse facts about Open Lending's business, operations, and prospects. Specifically, defendants: (1) misrepresented the capabilities of Open Lending's risk-based pricing models; (2) issued materially misleading statements regarding Open Lending's profit share revenue; (3) failed to disclose Open Lending's 2021 and 2022 vintage loans had become worth significantly less than their corresponding outstanding loan balances; (4) misrepresented the underperformance of Open Lending's 2023 and 2024 vintage loans; and (5) as a result of the foregoing, defendants' positive statements about Open Lending's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages. To join the Open Lending class action, go to or call Phillip Kim, Esq. at 866-767-3653 or email [email protected] for more information. No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. Follow us for updates on LinkedIn: on Twitter: or on Facebook: Attorney Advertising. Prior results do not guarantee a similar outcome. ------------------------------- Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 [email protected] To view the source version of this press release, please visit
Malaysian Reserve
25-05-2025
- Business
- Malaysian Reserve
LPRO INVESTOR ALERT: Open Lending Corporation Investors with Substantial Losses Have Opportunity to Lead Securities Class Action Lawsuit
SAN DIEGO, May 25, 2025 /PRNewswire/ — Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Open Lending Corporation (NASDAQ: LPRO) securities between February 24, 2022 and March 31, 2025, both dates inclusive (the 'Class Period'), have until Monday, June 30, 2025 to seek appointment as lead plaintiff of the Open Lending class action lawsuit. Captioned Bradley v. Open Lending Corporation, No. 25-cv-00650 (W.D. Tex.), the Open Lending class action lawsuit charges Open Lending and certain of Open Lending's current and former top executives with violations of the Securities Exchange Act of 1934. If you suffered substantial losses and wish to serve as lead plaintiff of the Open Lending class action lawsuit, please provide your information here: You can also contact attorneys J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at info@ CASE ALLEGATIONS: Open Lending provides lending enablement and risk analytics solutions to credit unions, regional banks, finance companies, and captive finance companies of automakers. The Open Lending class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) defendants misrepresented the capabilities of Open Lending's risk-based pricing model; (ii) defendants issued materially misleading statements regarding Open Lending's profit share revenue; (iii) defendants failed to disclose Open Lending's 2021 and 2022 vintage loans had become worth significantly less than their corresponding outstanding loan balances; and (iv) defendants misrepresented the underperformance of Open Lending's 2023 and 2024 vintage loans. The Open Lending class action lawsuit further alleges that on March 17, 2025, Open Lending disclosed that it would be unable to timely file its Annual Report for 2024 as it 'require[d] additional time to finalize its accounting and review processes specifically related to its profit share revenue and related contract assets.' On this news, the price of Open Lending stock fell more than 9%, according to the complaint. Then, on March 31, 2025, the Open Lending class action lawsuit alleges that Open Lending released its fourth quarter and full year 2024 financial results, revealing quarterly revenue of negative $56.9 million due in part to 'a $81.3 million reduction in estimated profit share revenues related to business in historic vintages' 'primarily due to heightened delinquencies and corresponding defaults associated with loans originated in 2021 through 2024.' Open Lending also disclosed a net loss of $144 million, due to Open Lending being 'negatively impacted by the recording of a valuation allowance on [its] deferred tax assets of $86.1 million, which increased [its] income tax expense during the period,' according to the complaint. Open Lending additionally announced that it had appointed a new CEO as well as a new COO, effective immediately, both of whom would be replacing defendant Charles D. Jehl, who had been operating as Open Lending's CEO, COO, and CFO simultaneously, the complaint further alleges. The Open Lending class action lawsuit alleges that on this news, the price of Open Lending stock fell nearly 58%. THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Open Lending securities during the Class Period to seek appointment as lead plaintiff in the Open Lending class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Open Lending class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Open Lending class action lawsuit. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Open Lending class action lawsuit. ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world's leading law firms representing investors in securities fraud and shareholder litigation. Our Firm has been ranked #1 in the ISS Securities Class Action Services rankings for four out of the last five years for securing the most monetary relief for investors. In 2024, we recovered over $2.5 billion for investors in securities-related class action cases – more than the next five law firms combined, according to ISS. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs' firms in the world, and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information: Past results do not guarantee future outcomes. Services may be performed by attorneys in any of our offices. Contact: Robbins Geller Rudman & Dowd LLPJ.C. Sanchez, Jennifer N. Caringal655 W. Broadway, Suite 1900, San Diego, CA 92101800-449-4900info@
Associated Press
25-05-2025
- Business
- Associated Press
ROSEN, A LEADING INVESTOR RIGHTS LAW FIRM, Encourages Open Lending Corporation Investors to Secure Counsel Before Important Deadline in Securities Class Action
NEW YORK, May 25, 2025 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Open Lending Corporation (NASDAQ: LPRO) between February 24, 2022 and March 31, 2025, both dates inclusive (the 'Class Period'), of the important June 30, 2025 lead plaintiff deadline. SO WHAT: If you purchased Open Lending securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. WHAT TO DO NEXT: To join the Open Lending class action, go to or call Phillip Kim, Esq. at 866-767-3653 or email [email protected] for more information. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than June 30, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers. DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, defendants made materially false and/or misleading statements, as well as failed to disclose materially adverse facts about Open Lending's business, operations, and prospects. Specifically, defendants: (1) misrepresented the capabilities of Open Lending's risk-based pricing models; (2) issued materially misleading statements regarding Open Lending's profit share revenue; (3) failed to disclose Open Lending's 2021 and 2022 vintage loans had become worth significantly less than their corresponding outstanding loan balances; (4) misrepresented the underperformance of Open Lending's 2023 and 2024 vintage loans; and (5) as a result of the foregoing, defendants' positive statements about Open Lending's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages. To join the Open Lending class action, go to or call Phillip Kim, Esq. at 866-767-3653 or email [email protected] for more information. No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. Follow us for updates on LinkedIn: on Twitter: or on Facebook: Attorney Advertising. Prior results do not guarantee a similar outcome. Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827
