SAN DIEGO, Sept. 07, 2021 (GLOBE NEWSWIRE) — The Shareholders Foundation, Inc. announces that a lawsuit was filed for certain investors in loanDepot, Inc. (NYSE: LDI) shares.
Investors who purchased in excess of $200,000 in shares of loanDepot, Inc. (NYSE: LDI) have certain options and there are short and strict deadlines running. Deadline: November 6, 2021. Those NYSE: LDI investors should contact the Shareholders Foundation at [email protected] 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 loanDepo’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 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 $7.71 per share on September 3, 2021.
Those who purchased loanDepot, Inc. (NYSE: LDI) shares should contact the Shareholders Foundation, Inc.
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