Recent Security Class Actions

Opendoor Technologies Inc Common Stock (NASDAQ: OPEN)

9 Days left to seek lead plaintiff status.

Company Name:Opendoor Technologies Inc Common Stock
Stock Symbol:NASDAQ: OPEN
Class Period Start:12/21/2020
Class Period End (inclusive):09/16/2022
Filing Deadline:12/06/2022

The Complaint alleges that the Offering Documents for the Merger were negligently prepared and, as a result, contained untrue statements of material fact or omitted to state other facts necessary to make the statements made not misleading and were not prepared in accordance with the rules and regulations governing their preparation. In addition, the Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, the Complaint alleges the Offering Documents and Defendants made false and/or misleading statements and/or failed to disclose that: (i) the algorithm used by the Company to make offers for homes could not accurately adjust to changing house prices across different market conditions and economic cycles; (ii) as a result, the Company was at an increased risk of sustaining significant and repeated losses due to residential real estate pricing fluctuations; (iii) accordingly, Defendants overstated the purported benefits and competitive advantages of the Algorithm; and (iv) as a result, the Offering Documents and Defendants’ public statements throughout the Class Period were materially false and/or misleading and failed to state information required to be stated therein.

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