{"id":535260,"date":"2021-09-07T17:58:00","date_gmt":"2021-09-07T21:58:00","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-loandepot-inc-ldi\/"},"modified":"2021-09-07T17:58:00","modified_gmt":"2021-09-07T21:58:00","slug":"gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-loandepot-inc-ldi","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-loandepot-inc-ldi\/","title":{"rendered":"Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against loanDepot, Inc. (LDI)"},"content":{"rendered":"
\n

NEW YORK, Sept. 07, 2021 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a class action lawsuit has been filed against loanDepot, Inc. (\u201cloanDepot\u201d or the \u201cCompany\u201d) (NYSE: LDI) in the United States District Court for the Central District of California on behalf of those who purchased or otherwise acquired loanDepot publicly traded securities pursuant and\/or traceable to the registration statement and related prospectus (collectively, the \u201cRegistration Statement\u201d) issued in connection with loanDepot\u2019s February 16, 2021 initial public offering (the \u201cIPO\u201d or \u201cOffering\u201d).<\/p>\n

According to the Complaint, the Registration Statement featured false and\/or misleading statements and\/or failed to disclose that: (i) the Company\u2019s refinance originations had already declined substantially at the time of the IPO due to industry over-capacity and increased competition; (ii) the Company\u2019s gain-on-sale margins had already declined substantially at the time of the IPO; (iii) as a result, the Company\u2019s revenue and growth would be negatively impacted; and (iv) as a result of the foregoing, Defendants\u2019 positive statements about the Company\u2019s business, operations, and prospects were materially misleading and\/or lacked a reasonable basis.<\/p>\n

Investors who purchased or otherwise acquired shares of loanDepot pursuant and\/or traceable to the Registration Statement issued in connection with loanDepot\u2019s February 16, 2021 IPO should contact the Firm prior to the November 8, 2021 <\/em><\/strong>lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.\u00a0 If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com<\/u><\/a> or gegleston@gme-law.com<\/u><\/a>.<\/p>\n

Please visit our website at http:\/\/www.gme-law.com<\/u><\/a> for more information about the firm.<\/p>\n


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<\/div>\n","protected":false},"excerpt":{"rendered":"

NEW YORK, Sept. 07, 2021 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a class action lawsuit has been filed against loanDepot, Inc. (\u201cloanDepot\u201d or the \u201cCompany\u201d) (NYSE: LDI) in the United States District Court for the Central District of California on behalf of those who purchased or otherwise acquired loanDepot publicly traded securities pursuant and\/or traceable to the registration statement and related prospectus (collectively, the \u201cRegistration Statement\u201d) issued in connection with loanDepot\u2019s February 16, 2021 initial public offering (the \u201cIPO\u201d or \u201cOffering\u201d). According to the Complaint, the Registration Statement featured false and\/or misleading statements and\/or failed to disclose that: (i) the Company\u2019s refinance originations had already declined substantially at the time of the IPO due to industry over-capacity … <\/p>\n

Continue reading “Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against loanDepot, Inc. (LDI)”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-535260","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nGainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against loanDepot, Inc. 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