Federman & Sherwood Investigates LendingClub Corporation
For Possible Violations of Federal Securities Laws
Oklahoma City, OK (May 9, 2016) – The law firm of Federman & Sherwood has initiated an investigation into LendingClub Corporation [NYSE: LC] with respect to possible violations of federal securities laws.
On May 9, 2016, LendingClub issued a press release announcing the board of directors accepted the resignation of Renaud Laplanche as Chairman and CEO. His resignation followed an internal review of sales of $22 million in near-prime loans to a single investor, and did not comply with the investor’s express instructions as to a non-credit and non-pricing element. On this news, LendingClub shares have fallen approximately 26% during intraday trading on May 9, 2016.
If you currently own common stock in LendingClub Corporation, have any information to assist in our investigation, or have questions or concerns regarding this notice or your rights or interests in this matter, please click here to download and complete our Certification of Investment or you may contact William B. Federman with any questions you may have regarding this investigation. Federman & Sherwood has extensive nationwide experience in representing investors in securities, derivative and merger-related shareholder class actions, and has been appointed as lead counsel in multiple complex cases across the country.
Posted on Mon, May 9, 2016
by Robin Hester filed under