SAN DIEGO, May 9, 2016 /PRNewswire/ -- Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating potential violations of the federal securities laws by LendingClub Corporation (NYSE: LC) and certain of its officers. LendingClub operates as an online marketplace that connects borrowers and investors in the United States.
Specifically, Johnson & Weaver's investigation seeks to determine whether certain statements regarding the Company's business and prospects were false and misleading when made.
On May 9, 2016, LendingClub announced the resignation of Renaud Laplanche as Chairman and CEO. Laplanche's departure followed an internal review of the sale of $22 million of nonconforming loans to a single investor. Additionally, three other senior managers involved in this sale of the $22 million, of near-prime, loans were either terminated or resigned. On this news, shares of LendingClub fell sharply closing down 34% on May 9, 2016.
If you are a LendingClub shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker (email@example.com) at 619-814-4471. If you email, please include your phone number.
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
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SOURCE Johnson & Weaver, LLP