loanDepot, Inc. (LDI)
Class Action & Lead Plaintiff Deadline: November 8, 2021
Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against loanDepot, Inc. (“loanDepot” or the “Company”) (NYSE: LDI) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired loanDepot securities pursuant and/or traceable to loanDepot’s February 16, 2021, initial public offering (the "IPO" or the "Offering").
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1933.
The Complaint alleges that the Registration Statement was negligently prepared and omitted to disclose material adverse facts. Specifically, Defendants failed to disclose to investors that: (1) the Company's refinance originations had already declined substantially at the time of the IPO due to industry over-capacity and increased competition; (2) the Company's gain-on-sale margins had already declined substantially at the time of the IPO; (3) as a result, the Company's revenue and growth would be negatively impacted; and (4) consequently, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
A class action lawsuit has already been filed. You can review a copy of the Complaint and sign the certification form or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in loanDepot you have until November 8, 2021 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.