INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of LendingClub Corporation Investors (LC)

BENSALEM, Pa.--()--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors that purchased LendingClub Corporation (“LendingClub” or the “Company”) (NYSE: LC) securities between February 28, 2015 through April 25, 2018, inclusive (the “Class Period”). LendingClub investors have until July 2, 2018 to file a lead plaintiff motion.

Investors that suffered losses on their LendingClub investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.

On April 25, 2018, the Federal Trade Commission (“FTC”) issued a press release announcing allegations that LendingClub violated the FTC Act and the Gramm-Leach-Bliley Act by misleadingly promising consumers they would receive a loan without hidden fees and failing to provide customers with a clear and conspicuous privacy notice. On this news, share of LendingClub fell significantly, thereby injuring investors.

The complaint filed in this class action alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) LendingClub falsely promised consumers they would receive a loan with "no hidden fees"; (2) LendingClub's privacy policy did not comply with the Gramm-Leach-Bliley Act; (3) consequently, the foregoing conduct would subject LendingClub's business practices to heightened regulatory scrutiny by the Federal Trade Commission; and (4) as a result, defendants' public statements were materially false and misleading at all relevant times.

If you purchased shares of LendingClub during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

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

Contacts

Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com

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Release Summary

INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of LendingClub Corporation Investors (LC)

Law Offices of Howard G. Smith