#United States #New York #Gross Law Firm #LPRO #Open Lending Corporation

Deadline Approaches for Lead Plaintiff in Open Lending Corporation Lawsuit: Important Update for Shareholders

Important Update for Shareholders of Open Lending Corporation

The Gross Law Firm has recently issued a crucial reminder to shareholders of Open Lending Corporation (NASDAQ: LPRO) about an impending deadline for lead plaintiff appointments in an ongoing class action lawsuit. The cut-off date for interested shareholders to register is June 30, 2025. This notice is particularly relevant for those who purchased shares during the specified class period, which spans from February 24, 2022, to March 31, 2025.

Details of the Allegations

The lawsuit arises from allegations against Open Lending Corporation, focusing on the misrepresentation of critical business aspects. The following points outline the core complaints:

1. Misrepresentation of Model Capabilities: The defendants allegedly misled shareholders by misrepresenting the effectiveness of the company's risk-based pricing models.
2. Misleading Financial Statements: Statements regarding the company's profit share revenue were reportedly materially misleading.
3. Failure to Disclose Loan Value Depreciation: It has been claimed that there was a significant depreciation in the value of vintage loans for the years 2021 and 2022, which was not disclosed to shareholders.
4. Underperformance of Recent Loans: The underperformance of vintage loans from 2023 and 2024 was allegedly misrepresented, leading to inflated perceptions of the company’s financial health.

Due to these issues, the positive statements made by the defendants regarding Open Lending's operations and prospects have been called into question, as they lacked a sound basis and were misleading.

Why Shareholders Should Take Action Now

Shareholders who have invested in Open Lending during the aforementioned period are encouraged to reach out to the Gross Law Firm for potential lead plaintiff appointments. It's important to note that lead plaintiff status is not a prerequisite for participating in any recovery that may arise from the lawsuit. By registering, shareholders will gain access to portfolio monitoring tools that offer updates throughout the lawsuit's lifecycle. This is part of the firm’s commitment to protecting investors' rights and ensuring transparency for those affected by alleged fraudulent practices.

To register or learn more about this action, shareholders should visit the following link: Open Lending Corporation Loss Submission Form.

The Role of the Gross Law Firm

The Gross Law Firm has established itself as a leading class action firm dedicated to advocating for investors' rights. The firm’s primary objective is to ensure that companies engage in responsible practices and maintain transparency with their investors. The commitment to fighting against deceitful, fraudulent, and illegal business conduct is central to the firm’s mission.

Recent cases handled by the Gross Law Firm reflect an unwavering resolve to seek justice for shareholders who may have suffered due to misleading corporate statements or actions. This is vital not just for individual investors but for maintaining integrity within the financial markets as a whole.

Key Takeaways for Shareholders

- Register Before June 30, 2025: Don't miss the deadline to register for possible lead plaintiff status.
- Participate Regardless of Lead Status: Remember, you can still partake in recovery without being appointed a lead plaintiff.
- Stay Informed: By enrolling, you'll receive vital updates regarding your investment and the progress of the lawsuit.

For any questions or further clarification, shareholders can contact the Gross Law Firm directly at their New York location or via email. Keeping well-informed and acting swiftly will be vital for all shareholders impacted by these developments.