SAN DIEGO, Oct. 19, 2021 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a deadline is coming up in the lawsuit that was filed for certain investors in loanDepot, Inc. (NYSE: LDI) shares.
Investors who purchased in excess of $250,000 in shares of loanDepot, Inc. (NYSE: LDI) have certain options and there are short and strict deadlines running. Deadline: November 8, 2021. Those NYSE: LDI investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
On September 3, 2021, a lawsuit was filed against loanDepot, Inc. over alleged securities laws violations. The plaintiff alleges that the Registration Statement that was filed in connection with loanDepot’s initial public offering (“IPO”) failed to disclose that loanDepot’s loan originations had already declined substantially at the time of the IPO due to industry over-capacity and increased competition, that loanDepot’s gain-on-sale margins had already declined substantially at the time of the IPO, that, as a result, the Company’s revenue and growth would be negatively impacted, that that loanDepot had already been forced to embark on a significant expense reduction plan due to the significantly lower growth and refinance originations that the Company was experiencing, and that, 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.
Since the IPO shares of LoanDepot, Inc. (NYSE: LDI) declined to $5.95 per share on October 11, 2021.
Those who purchased loanDepot, Inc. (NYSE: LDI) shares should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.
