{"id":535729,"date":"2021-09-08T09:38:07","date_gmt":"2021-09-08T13:38:07","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/ldi-deadline-investors-with-substantial-losses-have-opportunity-to-lead-the-loandepot-inc-class-action-lawsuit\/"},"modified":"2021-09-08T09:38:07","modified_gmt":"2021-09-08T13:38:07","slug":"ldi-deadline-investors-with-substantial-losses-have-opportunity-to-lead-the-loandepot-inc-class-action-lawsuit","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/ldi-deadline-investors-with-substantial-losses-have-opportunity-to-lead-the-loandepot-inc-class-action-lawsuit\/","title":{"rendered":"LDI DEADLINE: Investors with Substantial Losses Have Opportunity to Lead the loanDepot, Inc. Class Action Lawsuit"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">SAN DIEGO<\/span>, <span class=\"xn-chron\">Sept. 8, 2021<\/span> \/PRNewswire\/ &#8212;\u00a0<a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3282635-1&amp;h=928441433&amp;u=https%3A%2F%2Fwww.rgrdlaw.com%2Fservices-litigation-securities-fraud.html&amp;a=Robbins+Geller+Rudman+%26+Dowd+LLP\" rel=\"nofollow noopener\"><b>Robbins <span class=\"xn-person\">Geller Rudman<\/span> &amp; Dowd LLP<\/b><\/a> announces that purchasers of loanDepot, Inc. (NYSE: LDI) shares pursuant and\/or traceable to the registration statement and prospectus (collectively, the &#8220;Registration Statement&#8221;) issued in connection with loanDepot&#8217;s <span class=\"xn-chron\">February 16, 2021<\/span> initial public offering (&#8220;IPO&#8221;) have until <span class=\"xn-chron\">November 8, 2021<\/span> to seek appointment as lead plaintiff.\u00a0 The <i>loanDepot <\/i>class action lawsuit charges loanDepot, certain of its officers and directors, and the underwriters of the IPO with violations of the Securities Act of 1933.\u00a0 The <i>loanDepot<\/i> class action lawsuit was filed in the Central District of <span class=\"xn-location\">California<\/span> on <span class=\"xn-chron\">September 3, 2021<\/span> and is captioned <i>Lako v. loanDepot, Inc.<\/i>, No. 21-cv-01449.<\/p>\n<p>\n        <b>If you wish to serve as lead plaintiff of the <\/b><br \/>\n        <b><br \/>\n          <i>loanDepot<\/i> class action lawsuit, <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3282635-1&amp;h=2305873426&amp;u=https%3A%2F%2Fwww.rgrdlaw.com%2Fcases-loandepot-inc-class-action-lawsuit-ldi.html&amp;a=please+provide+your+information+by+clicking+here\" rel=\"nofollow noopener\">please provide your information by clicking here<\/a>.\u00a0 You can also contact attorney <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3282635-1&amp;h=1710633041&amp;u=https%3A%2F%2Fwww.rgrdlaw.com%2Fattorneys-Juan-Carlos-Sanchez.html&amp;a=J.C.+Sanchez+\" rel=\"nofollow noopener\">J.C. Sanchez <\/a>of Robbins Geller by calling 800\/449-4900 or via e-mail at <a target=\"_blank\" href=\"mailto:jsanchez@rgrdlaw.com\" rel=\"nofollow noopener\">jsanchez@rgrdlaw.com<\/a>.\u00a0 Lead plaintiff motions for the <i>loanDepot <\/i>class action lawsuit must be filed with the court no later than <span class=\"xn-chron\">November 8, 2021<\/span>.<\/b>\n      <\/p>\n<p>\n        <b>CASE ALLEGATIONS<\/b>: In its IPO, loanDepot sold 3,850,000 shares of its Class A common stock to the public at a price of <span class=\"xn-money\">$14.00<\/span> per share for total proceeds of approximately <span class=\"xn-money\">$54 million<\/span>, net of underwriting discounts and commissions.\u00a0 Nearly 40% of the shares sold in the IPO were by loanDepot&#8217;s founder, chairman, and CEO, defendant <span class=\"xn-person\">Anthony Hsieh<\/span>, and loanDepot&#8217;s early partner and investor, Parthenon Capital.<\/p>\n<p>The <i>loanDepot<\/i> class action lawsuit alleges that loanDepot&#8217;s Registration Statement was materially false and misleading and omitted to state that: (i) loanDepot&#8217;s refinance originations had already declined substantially at the time of the IPO due to industry over-capacity and increased competition; (ii) loanDepot&#8217;s gain-on-sale margins had already declined substantially at the time of the IPO; (iii) as a result, loanDepot&#8217;s revenue and growth would be negatively impacted; and (iv) consequently, defendants&#8217; positive statements about loanDepot&#8217;s business, operations, and prospects were materially misleading and\/or lacked a reasonable basis.<\/p>\n<p>The <i>loanDepot <\/i>class action lawsuit further alleges when loanDepot announced disappointing second quarter 2021 results on <span class=\"xn-chron\">August 3, 2021<\/span>, <span class=\"xn-person\">Anthony Hsieh<\/span> admitted that everything about loanDepot&#8217;s business is &#8220;highly predictable&#8221; and thus that loanDepot had perfect visibility at the time of the IPO as to where its business was and was going.\u00a0 By <span class=\"xn-chron\">August 17, 2021<\/span>, loanDepot&#8217;s stock price fell to <span class=\"xn-money\">$8.07<\/span> per share, a more than 42% decline from the IPO price, having plummeted in response to information reflecting the materialization of significant risks misrepresented and omitted from the Registration Statement.<\/p>\n<p>\n        <b>THE LEAD PLAINTIFF PROCESS<\/b>: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased loanDepot shares pursuant and\/or traceable to the Registration Statement issued in connection with the IPO to seek appointment as lead plaintiff in the <i>loanDepot <\/i>class action lawsuit.\u00a0 A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class.\u00a0 A lead plaintiff acts on behalf of all other class members in directing the<i> loanDepot <\/i>class action lawsuit.\u00a0 The lead plaintiff can select a law firm of its choice to litigate the <i>loanDepot<\/i> class action lawsuit.\u00a0 An investor&#8217;s ability to share in any potential future recovery of the <i>loanDepot<\/i> class\u00a0action lawsuit is not dependent upon serving as lead plaintiff.\u00a0<\/p>\n<p>\n        <b>ABOUT ROBBINS GELLER RUDMAN &amp; DOWD LLP<\/b>: With 200 lawyers in 9 offices nationwide, Robbins Geller Rudman &amp; Dowd LLP is the largest U.S. law firm representing investors in securities class actions.\u00a0 Robbins Geller attorneys have obtained many of the largest shareholder recoveries in history, including the largest securities class action recovery ever \u2013 <span class=\"xn-money\">$7.2 billion<\/span> \u2013 in <i>In re Enron Corp. Sec. Litig<\/i>.\u00a0 The 2020 ISS Securities Class Action Services Top 50 Report ranked Robbins Geller first for recovering <span class=\"xn-money\">$1.6 billion<\/span> for investors last year, more than double the amount recovered by any other securities plaintiffs&#8217; firm.\u00a0 Please visit <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3282635-1&amp;h=3364863273&amp;u=http%3A%2F%2Fwww.rgrdlaw.com%2F&amp;a=http%3A%2F%2Fwww.rgrdlaw.com\" rel=\"nofollow noopener\">http:\/\/www.rgrdlaw.com<\/a> for more information.\u00a0 <\/p>\n<p>Attorney advertising.<br \/>Past results do not guarantee future outcomes.<br \/>Services may be performed by attorneys in any of our offices.<\/p>\n<div>\n<table id=\"convertedTablee249\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnsbt0 prnsbr0 prnbcc prnsbb0 prnsbl0\">\n<tr>\n<td colspan=\"2\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Contact:<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Robbins Geller Rudman &amp; Dowd LLP<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">655 W. Broadway, San Diego, CA\u00a0 92101 <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">J.C. Sanchez, 800-449-4900<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <a target=\"_blank\" href=\"mailto:jsanchez@rgrdlaw.com\" class=\"prnews_a\" rel=\"nofollow noopener\">jsanchez@rgrdlaw.com<\/a><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=LA98799&amp;sd=2021-09-08\" \/> View original content:<a id=\"PRNURL\" rel=\"nofollow noopener\" href=\"https:\/\/www.prnewswire.com\/news-releases\/ldi-deadline-investors-with-substantial-losses-have-opportunity-to-lead-the-loandepot-inc-class-action-lawsuit-301370912.html\" target=\"_blank\">https:\/\/www.prnewswire.com\/news-releases\/ldi-deadline-investors-with-substantial-losses-have-opportunity-to-lead-the-loandepot-inc-class-action-lawsuit-301370912.html<\/a><\/p>\n<p>SOURCE  Robbins Geller Rudman &amp; Dowd LLP<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=LA98799&amp;Transmission_Id=202109080935PR_NEWS_USPR_____LA98799&amp;DateId=20210908\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire SAN DIEGO, Sept. 8, 2021 \/PRNewswire\/ &#8212;\u00a0Robbins Geller Rudman &amp; Dowd LLP announces that purchasers of loanDepot, Inc. (NYSE: LDI) shares pursuant and\/or traceable to the registration statement and prospectus (collectively, the &#8220;Registration Statement&#8221;) issued in connection with loanDepot&#8217;s February 16, 2021 initial public offering (&#8220;IPO&#8221;) have until November 8, 2021 to seek appointment as lead plaintiff.\u00a0 The loanDepot class action lawsuit charges loanDepot, certain of its officers and directors, and the underwriters of the IPO with violations of the Securities Act of 1933.\u00a0 The loanDepot class action lawsuit was filed in the Central District of California on September 3, 2021 and is captioned Lako v. loanDepot, Inc., No. 21-cv-01449. If you wish to serve as lead plaintiff &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/ldi-deadline-investors-with-substantial-losses-have-opportunity-to-lead-the-loandepot-inc-class-action-lawsuit\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;LDI DEADLINE: Investors with Substantial Losses Have Opportunity to Lead the loanDepot, Inc. Class Action Lawsuit&#8221;<\/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-535729","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>LDI DEADLINE: Investors with Substantial Losses Have Opportunity to Lead the loanDepot, Inc. Class Action Lawsuit - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/ldi-deadline-investors-with-substantial-losses-have-opportunity-to-lead-the-loandepot-inc-class-action-lawsuit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LDI DEADLINE: Investors with Substantial Losses Have Opportunity to Lead the loanDepot, Inc. Class Action Lawsuit - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire SAN DIEGO, Sept. 8, 2021 \/PRNewswire\/ &#8212;\u00a0Robbins Geller Rudman &amp; Dowd LLP announces that purchasers of loanDepot, Inc. (NYSE: LDI) shares pursuant and\/or traceable to the registration statement and prospectus (collectively, the &#8220;Registration Statement&#8221;) issued in connection with loanDepot&#8217;s February 16, 2021 initial public offering (&#8220;IPO&#8221;) have until November 8, 2021 to seek appointment as lead plaintiff.\u00a0 The loanDepot class action lawsuit charges loanDepot, certain of its officers and directors, and the underwriters of the IPO with violations of the Securities Act of 1933.\u00a0 The loanDepot class action lawsuit was filed in the Central District of California on September 3, 2021 and is captioned Lako v. loanDepot, Inc., No. 21-cv-01449. If you wish to serve as lead plaintiff &hellip; Continue reading &quot;LDI DEADLINE: Investors with Substantial Losses Have Opportunity to Lead the loanDepot, Inc. 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Class Action Lawsuit - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/ldi-deadline-investors-with-substantial-losses-have-opportunity-to-lead-the-loandepot-inc-class-action-lawsuit\/","og_locale":"en_US","og_type":"article","og_title":"LDI DEADLINE: Investors with Substantial Losses Have Opportunity to Lead the loanDepot, Inc. Class Action Lawsuit - Market Newsdesk","og_description":"PR Newswire SAN DIEGO, Sept. 8, 2021 \/PRNewswire\/ &#8212;\u00a0Robbins Geller Rudman &amp; Dowd LLP announces that purchasers of loanDepot, Inc. (NYSE: LDI) shares pursuant and\/or traceable to the registration statement and prospectus (collectively, the &#8220;Registration Statement&#8221;) issued in connection with loanDepot&#8217;s February 16, 2021 initial public offering (&#8220;IPO&#8221;) have until November 8, 2021 to seek appointment as lead plaintiff.\u00a0 The loanDepot class action lawsuit charges loanDepot, certain of its officers and directors, and the underwriters of the IPO with violations of the Securities Act of 1933.\u00a0 The loanDepot class action lawsuit was filed in the Central District of California on September 3, 2021 and is captioned Lako v. loanDepot, Inc., No. 21-cv-01449. If you wish to serve as lead plaintiff &hellip; Continue reading \"LDI DEADLINE: Investors with Substantial Losses Have Opportunity to Lead the loanDepot, Inc. Class Action Lawsuit\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/ldi-deadline-investors-with-substantial-losses-have-opportunity-to-lead-the-loandepot-inc-class-action-lawsuit\/","og_site_name":"Market Newsdesk","article_published_time":"2021-09-08T13:38:07+00:00","og_image":[{"url":"https:\/\/c212.net\/c\/img\/favicon.png?sn=LA98799&amp;sd=2021-09-08","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ldi-deadline-investors-with-substantial-losses-have-opportunity-to-lead-the-loandepot-inc-class-action-lawsuit\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ldi-deadline-investors-with-substantial-losses-have-opportunity-to-lead-the-loandepot-inc-class-action-lawsuit\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"LDI DEADLINE: Investors with Substantial Losses Have Opportunity to Lead the loanDepot, Inc. 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