#USA #New York #Gross Law Firm #Open Lending #LPRO

Open Lending Corporation Securities Fraud Class Action

Overview

On June 12, 2025, The Gross Law Firm announced an ongoing class action lawsuit regarding alleged securities fraud committed by Open Lending Corporation (NASDAQ: LPRO). This notice is crucial for shareholders who have purchased LPRO shares during the designated class period, specifically between February 24, 2022, and March 31, 2025. The law firm is encouraging affected shareholders to come forward and discuss their rights before the deadline of June 30, 2025.

Allegations of Fraud

According to the filed complaint, Open Lending's leadership is accused of making a series of misleading statements regarding the company’s financial health and operational performance. The key allegations include:

1. Risk-Based Pricing Models: The defendants allegedly misrepresented the effectiveness of the company's risk-based pricing models, which are crucial for their lending operations.
2. Profit Share Revenue: There are claims that misleading statements regarding the company’s profit-sharing revenue were issued, painting an overly positive picture of their financial circumstances.
3. Vintage Loans Value: The lawsuit reveals that the defendants failed to disclose that the loans issued in 2021 and 2022 had significantly depreciated in value, creating a disparity between outstanding balances and the loans’ actual worth.
4. Underperformance of Future Loans: The lawsuit also points out that statements which promoted confidence in the performance of 2023 and 2024 vintage loans were misleading.

The results of these purported actions have led to a material misrepresentation of the company's overall health, ultimately misleading investors and contributing to artificial inflation of the stock price.

Next Steps for Shareholders

Shareholders who purchased LPRO shares within the class action period are urged to register for this case. Once registered, they will receive updates through a portfolio monitoring service that will track the status of the lawsuit. It is important to note that there is no financial obligation to participate in this case, and registering does not necessarily require shareholders to act as lead plaintiffs.

Important Dates

• - Class Period: February 24, 2022, to March 31, 2025
• - Deadline to Register: June 30, 2025

The Gross Law Firm is dedicated to protecting the rights of investors and holds a strong commitment to ensuring accountability within the corporate sector. They focus on providing a pathway for investors who have been affected by deceptive business practices to seek restitution for their losses.

Why Choose The Gross Law Firm?

The Gross Law Firm has established a reputation as a leading class action firm specializing in securities fraud cases. With their expertise, they strive to uphold responsible business practices and advocate for the rights of investors who have suffered from dishonest corporate actions. By representing shareholders in cases like that of Open Lending Corporation, they aim to recover losses sustained due to misleading statements stemming from corporate misconduct.

How to Get Involved

Affected shareholders can take immediate action by visiting The Gross Law Firm's website and filling out the registration form. This proactive approach enables investors to stay informed and enables the firm to assess the scope of the case accurately. It is essential for shareholders to mark the deadlines on their calendars and take necessary steps to safeguard their rights before the approaching deadline.

For further information, potential plaintiffs can reach out directly to The Gross Law Firm:
Contact Information
15 West 38th Street, 12th floor
New York, NY, 10018
Email: [email protected]
Phone: (646) 453-8903

In conclusion, this securities fraud class action represents an important opportunity for Open Lending Corporation shareholders to reclaim their losses and hold the responsible parties accountable. Time is of the essence, so interested shareholders must act quickly to ensure their voices are heard in what may prove to be a significant legal battle.