#United States #New York #Levi & Korsinsky #Securities Fraud #Open Lending Corp

Levi & Korsinsky Files Class Action for Open Lending Corporation Shareholders

In a recent development, Levi & Korsinsky, LLP has announced the initiation of a class action lawsuit on behalf of investors of Open Lending Corporation, publicly listed as LPRO on NASDAQ. This lawsuit arises from major concerns regarding alleged securities fraud that supposedly took place between February 24, 2022, and March 31, 2025. Investors who believe they have suffered financial losses due to these circumstances can seek justice through this legal action.

Details of the Lawsuit

The lawsuit fundamentally targets several issues that may have impacted Open Lending's stock performance negatively. According to court documents, the defendants are accused of hiding critical information from investors. Key accusations include:
1. Misrepresentation: The defendants allegedly made inaccurate statements regarding the effectiveness of the company's risk-based pricing models, leading shareholders to have an overly optimistic view of the company's performance.
2. Misleading Financial Statements: Investors were reportedly provided with materially misleading information concerning the company's profit share revenue, damaging their trust in the financial health of Open Lending.
3. Devaluation of Loans: The complaint suggests that certain vintage loans from 2021 and 2022 were significantly devalued compared to their outstanding balances, a fact concealed from investors.
4. Underperformance of Recent Loans: Additional claims indicate that the performance of loans dated 2023 and 2024 was misrepresented, further aggravating shareholders' losses.

These actions reportedly resulted in a series of materially misleading statements about the company's operations and growth potential, ultimately leading to a widespread loss of confidence among investors.

Steps Forward for Investors

For those who have encountered losses due to their investment in Open Lending, they are advised to act promptly. The legal team at Levi & Korsinsky is urging affected investors to submit their request to be appointed as lead plaintiffs. The cutoff date for such submissions is June 30, 2025. However, it's crucial to note that being a lead plaintiff isn't a requirement for sharing in any potential recovery from the lawsuit.

No Financial Risk for Class Members

Investors participating in this class action may potentially be entitled to financial recovery without incurring any immediate costs. Levi & Korsinsky has emphasized that class members would not be responsible for any out-of-pocket expenses or fees, thereby allowing greater accessibility for investors looking to reclaim their losses.

Why Choose Levi & Korsinsky

With over two decades of experience, Levi & Korsinsky has a proven history of securing substantial settlements for wronged shareholders. The firm's track record includes significant cases against large corporations, and this particular lawsuit represents one of many high-stakes situations in which they have defended the rights of investors. Recently, their expertise has landed them a spot in the Top 50 Report by ISS Securities Class Action Services for seven consecutive years, underscoring their capabilities in securities litigation.

Contact Information for Interested Investors

Any investors of Open Lending Corporation interested in pursuing this communication and possibly getting involved should reach out directly to Levi & Korsinsky. Investors can contact Joseph E. Levi, Esq. via email at email protected] or by telephone at (212) 363-7500 to discuss the lawsuit further. For more information, interested parties can also visit their website at [Levi & Korsinsky, LLP.

As the situation develops, it is pivotal for affected investors to remain informed of their rights and available legal avenues to reclaim their losses.