Recent Securities Litigations
loanDepot Inc. Class A Common Stock (NYSE: LDI)
36 Days left to seek lead plaintiff status.
The Complaint alleges that Defendants made materially false and misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects in the Company’s Registration Statement and Prospectus. Specifically, Defendants failed to disclose that: (i) the Company's refinance originations had already declined substantially at the time of the IPO due to industry over-capacity and increased competition; (ii) the Company's gain-on-sale margins had already declined substantially at the time of the IPO; and (iii) as a result, the Company's revenue and growth would be negatively impacted.