DEADLINE NOTICE: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against LendingClub Corporation and Encourages Investors with Losses in Excess of $500,000 to Contact the Firm

LOS ANGELES, CA / ACCESSWIRE / May 9, 2018 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against LendingClub Corporation (“LendingClub” or “the Company”) (NYSE: LC) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Investors who purchased the Company’s shares between February 28, 2015, and April 25, 2018, inclusive (the “Class Period”), are encouraged to contact the firm before July 2, 2018.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at brian@schallfirm.com.

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

According to the Complaint, LendingClub made materially false and misleading statements throughout the class period. It alleges that LendingClub promised consumer loans with “no hidden fees”, a promise they knew to be false. In fact, the company’s privacy policy was not in compliance with the Gramm-Leach-Bliley Act. These behaviors were likely to subject LendingClub to increased scrutiny from the Federal Trade Commission (FTC). As a result, LendingClub’s claims about the company’s business operations and financial prospects were materially false and misleading throughout the class period. According to the lawsuit, when accurate information about LendingClub became apparent in the market, investors suffered damages.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

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

CONTACT:

The Schall Law Firm
Brian Schall, Esq.,
Sherin Mahdavian, Esq.,
www.schallfirm.com

SOURCE: The Schall Law Firm

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