#United States #New York #Class Action #Gross Law Firm #Open Lending

Class Action Filed Against Open Lending Corporation

Recent developments have led to a significant legal action involving Open Lending Corporation (NASDAQ: LPRO). On June 30, 2025, the Gross Law Firm announced a class action lawsuit aimed at providing potential recovery options for shareholders who purchased shares during the specified period. This notice is crucial for all investors wanting to understand their rights and options moving forward.

Background of the Case

The class action primarily focuses on the allegations made against Open Lending Corporation, which claims that the company misrepresented its financial health and performance indicators. The class period for this lawsuit spans from February 24, 2022, to March 31, 2025. Shareholders who bought shares within this timeframe are encouraged to reach out for guidance on becoming involved in the case. Importantly, being appointed as a lead plaintiff is not a prerequisite for participating in potential recovery.

The complaint asserts several serious violations. It states that the defendants made false assertions which included misrepresenting the effectiveness of the company's risk-based pricing models, issuing misleading information about profit-sharing revenues, and failing to disclose the significant devaluation of the company's 2021 and 2022 vintage loans. The lawsuit suggests that these misrepresentations created a misleading picture of the company’s operations and prospects.

Allegations Summary

Four main allegations have arisen:
1. Misrepresentation of the risk-based pricing models’ capabilities.
2. Materially misleading statements about profit-sharing revenue.
3. Failure to disclose that the 2021 and 2022 vintage loans were worth much less than their outstanding balances.
4. Misrepresentation of the underperformance issues regarding the 2023 and 2024 vintage loans.

Due to these issues, the firm claims that any positive statements made about Open Lending Corporation’s business were materially misleading or lacked a factual basis. This has resulted in artificial inflation of the company's stock and subsequent losses for investors when the truth was revealed.

Importance of Timely Response

The Gross Law Firm stresses the urgency for shareholders to act quickly in registering for this class action. The cut-off date to apply for lead plaintiff status is also June 30, 2025. Shareholders can secure their positions by registering through the links provided by the Gross Law Firm. No financial obligation exists for those interested in participating in this litigation.

Next Steps for Investors

Once investors register, they will have access to a portfolio monitoring tool that will track the case's progression, ensuring they receive timely updates throughout the lawsuit’s lifecycle. Joining this class action is a no-cost option that allows shareholders to stay informed and involved in efforts to recover potential losses.

Why Choose the Gross Law Firm?

The Gross Law Firm is well-known for its commitment to protecting investors' rights and helping them recover losses from deceitful corporate practices. The firm focuses on ensuring that companies adhere to ethical practices, thereby promoting responsible corporate accountability. With a strong track record in class action lawsuits, they are prepared to assist those affected by Open Lending Corporation's alleged actions.

Contact Information

Investors who would like more information about the ongoing case or wish to register for participation can contact:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: [email protected]
Phone: (646) 453-8903

Stay informed and protect your investments as this case unfolds, ensuring that your voice is heard in the quest for accountability and recovery.