LPRO Class Action Lawsuit Filed by Levi & Korsinsky

Investors who have incurred losses in Open Lending Corporation (LPRO) may have until June 30, 2025, to seek participation in the class action lawsuit. Levi & Korsinsky, LLP has been reminding investors of this deadline. The lawsuit involves accusations that Open Lending Corporation made deceptive statements leading to stock price inflation.

Open Lending Corporation is a provider of automated lending services for financial institutions. The allegations against the company revolve around its initial public offering (IPO) in August 2020. It is claimed that the company and its executives made misleading statements and failed to disclose information relevant to investors. This allegedly caused Open Lending Corporation’s stock to trade at artificially inflated prices.

On November 18, 2020, a research report was published raising concerns about Open Lending Corporation’s business practices. The report alleged that the company had been forced to divest a significant portion of the loans originated in 2019 to undisclosed parties at steep discounts. This information was not disclosed to investors, potentially leading to losses for shareholders.

As a result of this report, Open Lending Corporation’s stock price fell by over 17% on November 19, 2020. Following this drop, investors who had purchased shares during the IPO period suffered financial losses. The allegations raised in the class action lawsuit stem from these events, with investors claiming that they were misled by the company’s executives.

Open Lending Corporation investors who acquired shares between November 15, 2019, and November 16, 2020, may be eligible to join the class action lawsuit. The deadline for participation is June 30, 2025, and investors seeking to recover losses incurred during this period are encouraged to take action before the cut-off date.

Investors who believe they have grounds for the class action lawsuit against Open Lending Corporation should consult legal counsel to understand their rights and options. Levi & Korsinsky, LLP is actively working on behalf of investors who suffered losses due to alleged misleading statements by the company and its executives. By participating in the class action lawsuit, investors may be able to seek compensation for their financial losses.

The class action lawsuit against Open Lending Corporation represents an opportunity for investors to hold the company accountable for its alleged misconduct. By coming together to seek justice, investors can work towards protecting their rights and potentially recovering losses resulting from deceptive practices. If you believe you have been affected by the events surrounding Open Lending Corporation’s IPO, consider reaching out to legal counsel to explore your options for seeking restitution.