LDI Investors Have Opportunity to Lead loanDepot, Inc. Securities Lawsuit

Rhea-AI Summary

Glancy Prongay & Murray LLP announces that investors suffering significant losses from loanDepot (NYSE: LDI) have the chance to lead a securities class action lawsuit. This opportunity pertains to events following the company's IPO in February 2021, with a lead plaintiff deadline set for November 8, 2021. The lawsuit alleges that loanDepot failed to disclose critical information about declining refinance originations and margins, which misled investors regarding the company's financial health and growth prospects.

Positive

• None.

Negative

• Lawsuit alleges loanDepot misled investors about declining refinance originations and gain-on-sale margins.
• The company's revenue and growth are reported to be negatively impacted.

LOS ANGELES, Oct. 4, 2021 /PRNewswire/ -- Glancy Prongay & Murray LLP ("GPM") announces that investors with substantial losses have opportunity to lead the securities class action lawsuit against loanDepot, Inc. (NYSE: LDI)

Relevant Period: February 2021 IPO
Lead Plaintiff Deadline: November 8, 2021

If you wish to serve as lead plaintiff of the loanDepot lawsuit, you can submit your contact information at https://www.glancylaw.com/cases/loandepot-inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.

The complaint filed alleges that, Defendants failed to disclose to investors that: (1) loanDepot's refinance originations had already declined substantially at the time of the IPO due to industry over-capacity and increased competition; (2) loanDepot's gain-on-sale margins had already declined substantially at the time of the IPO; (3) as a result, loanDepot's revenue and growth would be negatively impacted; and (4) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

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To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View original content:https://www.prnewswire.com/news-releases/ldi-investors-have-opportunity-to-lead-loandepot-inc-securities-lawsuit-301390144.html

SOURCE Glancy Prongay & Murray LLP

FAQ

What is the loanDepot securities class action lawsuit?

The lawsuit involves allegations that loanDepot misled investors about its financial performance and growth prospects during its IPO in February 2021.

What are the key dates for the loanDepot class action lawsuit?

The lead plaintiff deadline for the lawsuit is November 8, 2021.

Who can lead the loanDepot class action lawsuit?

Investors who suffered substantial losses from loanDepot's stock can submit their information to potentially lead the class action.

What are the allegations against loanDepot in the class action?

The allegations state that loanDepot failed to disclose significant declines in refinance originations and gain-on-sale margins, misleading investors.