Hagens Berman Alerts LendingClub Investors to the July 2, 2018 Securities Class Action Lead Plaintiff Deadline

SAN FRANCISCO, May 07, 2018 -- Hagens Berman Sobol Shapiro LLP alerts investors in LendingClub Corporation (NYSE:LC) to the July 2, 2018 Lead Plaintiff deadline in the securities class action pending in the United States District Court for the Northern District of California.  If you purchased or otherwise acquired securities of LendingClub between February 28, 2015 and April 25, 2018 and suffered losses contact Hagens Berman Sobol Shapiro LLP.  For more information visit:

https://www.hbsslaw.com/cases/LC

or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing

[email protected].

On April 25, 2018 the Federal Trade Commission charged LendingClub with falsely promising consumers they would receive a loan with “no hidden fees,” when, in actuality, the company deducted hundreds or even thousands of dollars in hidden up-front fees from the loans.

This news drove the price of LendingClub shares down $0.49, or about 15%, to close at $2.77 that day.

“We’re focused on evidence unearthed by the FTC, including internal compliance reviews apparently citing the concealment of the fee as a significant problem for consumers,” said Hagens Berman partner Reed Kathrein.

Whistleblowers:  Persons with non-public information regarding LendingClub should consider their options to help in the investigation or take advantage of the SEC Whistleblower program.  Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC.  For more information, call Reed Kathrein at 510-725-3000 or email [email protected].

About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with 70+ attorneys in 11 offices across the country.  The Firm represents investors, whistleblowers, workers and consumers in complex litigation.  More about the firm and its successes can be found at www.hbsslaw.com.  For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.

Contact:
Reed Kathrein, 510-725-3000