Australia markets closed
  • ALL ORDS

    7,599.90
    -137.00 (-1.77%)
     
  • ASX 200

    7,279.30
    -128.00 (-1.73%)
     
  • AUD/USD

    0.7128
    -0.0061 (-0.86%)
     
  • OIL

    68.15
    -10.24 (-13.06%)
     
  • GOLD

    1,785.50
    +1.20 (+0.07%)
     
  • BTC-AUD

    75,467.32
    -7,736.21 (-9.30%)
     
  • CMC Crypto 200

    1,365.60
    -89.82 (-6.17%)
     
  • AUD/EUR

    0.6294
    -0.0117 (-1.82%)
     
  • AUD/NZD

    1.0443
    -0.0039 (-0.37%)
     
  • NZX 50

    12,628.89
    -165.72 (-1.30%)
     
  • NASDAQ

    16,025.58
    -342.23 (-2.09%)
     
  • FTSE

    7,044.03
    -266.34 (-3.64%)
     
  • Dow Jones

    34,899.34
    -905.04 (-2.53%)
     
  • DAX

    15,257.04
    -660.94 (-4.15%)
     
  • Hang Seng

    24,080.52
    -659.64 (-2.67%)
     
  • NIKKEI 225

    28,751.62
    -747.66 (-2.53%)
     

Scott+Scott Attorneys at Law LLP Reminds Investors of the November 8, 2021 Deadline in Securities Class Actions Against LoanDepot, Inc. (NYSE: LDI)

  • Oops!
    Something went wrong.
    Please try again later.
·2-min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

NEW YORK, October 19, 2021--(BUSINESS WIRE)--Scott+Scott Attorneys at Law LLP ("Scott+Scott"), an international shareholder and consumer rights litigation firm, reminds investors that securities class action lawsuits have been filed against loanDepot, Inc. (NYSE: LDI) ("LoanDepot" or the "Company") and certain other defendants, alleging violations of §§11 and 15 of the Securities Act of 1933. If you purchased shares of LoanDepot pursuant and/or traceable to LoanDepot’s initial public offering ("IPO"), and have suffered a loss, realized or unrealized, you are encouraged to contact Jonathan Zimmerman for additional information at (888) 398-9312 or jzimmerman@scott-scott.com. The lead plaintiff deadline is November 8, 2021.

LoanDepot held its IPO in February 2021, selling 3,850,000 shares of Class A common stock to the public at a price of $14 per share.

The lawsuits allege that the offering documents filed in connection with LoanDepot’s IPO were materially false and misleading and omitted to state that: (i) LoanDepot’s refinance originations had already declined substantially at the time of the IPO due to industry over-capacity and increased competition; (ii) LoanDepot’s gain-on-sale margins had already declined substantially at the time of the IPO; (iii) as a result, LoanDepot’s revenue and growth would be negatively impacted; and (iv) consequently, defendants’ positive statements about LoanDepot’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

By August 17, 2021, LoanDepot’s stock price fell to $8.07 per share – down more than 42% from the $14 IPO price. It trades even lower today.

Lead Plaintiff Deadline

The Lead Plaintiff deadline in this action is November 8, 2021. Any member of the proposed Class may seek to serve as Lead Plaintiff through counsel of their choice, or may choose to do nothing and remain a member of the proposed Class.

What You Can Do

If you purchased LoanDepot stock between February 11 and August 10, 2021, or if you have questions about this notice or your legal rights, you are encouraged to contact attorney Jonathan Zimmerman at (888) 398-9312 or jzimmerman@scott-scott.com.

About Scott+Scott

Scott+Scott has significant experience in prosecuting major securities, antitrust, and consumer rights actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Amsterdam, Connecticut, California, Virginia, and Ohio.

This may be considered Attorney Advertising.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211019006201/en/

Contacts

Jonathan Zimmerman
Scott+Scott Attorneys at Law LLP
(888) 398-9312
jzimmerman@scott-scott.com

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting