#United States #New York #Class Action #Levi & Korsinsky #Open Lending Corporation

Levi & Korsinsky Informs Investors of Class Action Against Open Lending Corporation

Levi & Korsinsky LLP has officially notified investors of Open Lending Corporation (NASDAQ: LPRO) about a class action securities lawsuit. This action is aimed at recovering losses incurred by shareholders adversely impacted by alleged securities fraud occurring between February 24, 2022, and March 31, 2025. This lawsuit represents an opportunity for shareholders to seek restitution for their financial losses.

Background of the Lawsuit

The complaint against Open Lending Corporation highlights several critical misrepresentations and omissions made by the Company's management. Specifically, it claims that the defendants misrepresented the effectiveness of the company's risk-based pricing models. Moreover, it outlines that the company issued materially misleading statements concerning its profit share revenue. Crucially, it is alleged that the company failed to disclose the deteriorating value of its 2021 and 2022 vintage loans, which significantly dropped below their outstanding loan balances. The lawsuit also asserts that the Company misrepresented the underperformance of its vintage loans from 2023 and 2024. These misleading statements have caused damage to investors as they relied on the defendants' positive assertions about the company's business prospects, which were claimed to be materially misleading or lacked a reasonable basis.

What’s Next for Investors?

Investors who have suffered losses during the relevant timeframe are urged to act quickly. Those affected have until June 30, 2025, to request that the court appoint them as the lead plaintiff in the case. However, it is important to note that participation in any potential recovery does not require individuals to be appointed as lead plaintiffs. This offers a streamlined opportunity for investors to claim damages without the burden of upfront legal costs.

No Cost to Participants

Levi & Korsinsky emphasizes that there is no cost or obligation to participate as a class member. Investors may be entitled to compensation without incurring out-of-pocket expenses or fees, highlighting the firm’s commitment to advocating for shareholder rights. This means that even if investors choose to join the lawsuit, they can do so without financial risk.

Why Choose Levi & Korsinsky?

With over two decades of experience in securities litigation, Levi & Korsinsky has successfully secured hundreds of millions of dollars for aggrieved shareholders. The firm has developed a robust track record in handling complex securities cases, thanks to its team of over 70 dedicated professionals. For seven consecutive years, Levi & Korsinsky has been recognized in ISS Securities Class Action Services' Top 50 Report, solidifying its reputation as one of the nation's leading securities litigation firms.

Contact Information for Interested Investors

Investors wishing to get more information about the class action lawsuit or seeking legal counsel can reach out directly to:

• - Levi & Korsinsky, LLP

Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
Email: [email protected]
Phone: (212) 363-7500
Fax: (212) 363-7171
Website: www.zlk.com

This is a critical moment for investors of Open Lending Corporation, and Levi & Korsinsky aims to ensure that their rights are protected and that they have a clear path toward potential recovery.