IRVINE, CA / ACCESSWIRE / July 8, 2016 / Khang & Khang LLP (the "Firm") announces that a class action lawsuit has been filed against LendingClub Corporation ("LendingClub" or the "Company") (NYSE: LC) concerning possible violations of federal securities laws on behalf of investors who purchased or otherwise acquired shares of the Company in connection to the Initial Public Offering ("IPO") on or about December 11, 2014, or between December 11, 2014 and May 6, 2016 (the "Class Period"). Investors who purchased or otherwise acquired shares on or about the IPO, or during the Class Period should contact the Firm in advance of the July 15, 2016 lead plaintiff motion deadline.
If you purchased shares of LendingClub during the IPO or Class Period, please contact Joon M. Khang, Esquire, of Khang & Khang, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or by e-mail at [email protected].
There has been no class certification in this case. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.
According to the complaint, throughout the Class Period, LendingClub issued false and misleading statements to investors and/or failed to disclose that: the Company's internal controls were inadequate to ensure that LendingClub's loans conformed to its customers' criteria; LendingClub's internal controls were inadequate to ensure that relevant interests in third-party transactions were fully and timely disclosed; and as a result of the above, LendingClub's public statements were materially false and misleading at all relevant times. When the true details entered the market, investors suffered damages.
If you wish to learn more about this lawsuit, or if you have any questions concerning this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or by e-mail at [email protected].
This press release may constitute Attorney Advertising in some jurisdictions.
Contacts
Joon M. Khang, Esq.
Telephone: 949-419-3834
Facsimile: 949-225-4474
[email protected]
SOURCE: Khang & Khang LLP