NEW YORK, April 26, 2018 /PRNewswire/ -- Attorney Advertising--Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of LendingClub Corporation ("LendingClub" or the "Company") (NYSE: LC) and LendingClub's Member Payment Dependent Notes. Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/lc.
The investigation concerns whether LendingClub and certain of its officers and/or directors have violated federal securities laws.
On April 25, 2018, the Federal Trade Commission ("FTC") revealed that it charged the Company with "falsely promising consumers they would receive a loan with 'no hidden fees,' when, in actuality, the company deducted hundreds or even thousands of dollars in hidden up-front fees from the loans." The FTC's complaint alleges that LendingClub violated the FTC Act and the Gramm-Leach-Bliley Act. Following this news, LendingClub stock dropped $0.49 per share or roughly 15% to close at $2.77 per share on April 25, 2018.
If you are aware of any facts relating to this investigation, or purchased LendingClub shares or Member Payment Dependent Notes, you can assist this investigation by visiting the firm's site: www.bgandg.com/lc. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.