UPST Investor Alert: Upstart Holdings Securities Fraud Lawsuit - Investors With Losses May Seek to Lead the Class Action After Company Allegedly Violated Disclosure Obligations: SueWallSt

Deadline Alert: Understanding Lead Plaintiff Selection Under the PSLRA

NEW YORK, May 21, 2026 /PRNewswire/ -- IMPORTANT DATE: June 8, 2026. Investors who purchased Upstart Holdings, Inc. (NASDAQ: UPST) securities between May 14, 2025 and November 4, 2025 and wish to seek appointment as lead plaintiff must file a motion by this date. Start your claim now before the deadline or contact Joseph E. Levi, Esq. at [email protected] or (888) SueWallSt.

Upstart shares fell $4.49 per share, a 9.71% decline, after the Company revealed its AI underwriting model had been overreacting to macroeconomic signals, reducing borrower approvals and conversion rates throughout Q3 2025. Full-year revenue guidance was cut by $20 million.

What Is a Lead Plaintiff?

Under the Private Securities Litigation Reform Act of 1995, the Court appoints a lead plaintiff to represent all investors who purchased UPST securities during the Class Period. The lead plaintiff directs the litigation, selects lead counsel, and oversees case strategy on behalf of the entire class. In the Upstart action, filed in the United States District Court for the Northern District of California, the lead plaintiff will represent shareholders who purchased stock while the Company allegedly concealed that its Model 22 AI system was plagued by sampling error and overresponsiveness to macro signals.

Lead Plaintiff Facts

• The lead plaintiff is typically the investor or group with the largest financial interest in the case, meaning the greatest documented losses from UPST purchases during the Class Period
• There is no minimum loss threshold to apply; any investor who purchased between May 14, 2025 and November 4, 2025 may seek appointment
• Lead plaintiffs pay nothing out of pocket; attorneys work on a contingency basis approved by the Court
• You do not need to have sold your shares to qualify; holding at a loss is sufficient
• The application requires a short motion and a certification of transactions, which counsel prepares on your behalf

Post-Deadline Procedures

After the June 8, 2026 deadline passes, the Court will review all competing motions and select the applicant best suited to represent the class. This process typically takes several weeks. Once appointed, the lead plaintiff and lead counsel will manage all aspects of the litigation, including discovery, depositions, and any settlement negotiations.

"The lead plaintiff process is designed to ensure the class is represented by shareholders with substantial interests in the outcome of the case. In the Upstart action, investors who suffered losses when the Company's AI model failures were revealed have a limited window to seek this role." -- Joseph E. Levi, Esq.

Absent Class Member Rights

Investors who do not apply for lead plaintiff status are not excluded from the case. Absent class members retain the right to participate in any future recovery without taking any action before the deadline. The deadline applies only to those who wish to serve in the lead plaintiff role and direct the course of the litigation.

Find out if you qualify to recover losses or call Joseph E. Levi, Esq. at (888) SueWallSt.

SueWallSt | Top 50 Securities Firm | (888) SueWallSt | www.suewallst.com

Frequently Asked Questions About the UPST Lawsuit

Q: What is a lead plaintiff and why does it matter? A: A lead plaintiff is the investor appointed by the court to represent the entire class. Lead plaintiffs are typically investors with the largest documented losses. Being appointed does not increase individual recovery but gives direct oversight of how the case is run.

Q: How do I know if I lost enough money to be the lead plaintiff? A: There is no minimum loss threshold. Courts appoint the investor with the largest provable loss who is willing and able to represent the class adequately. Contact SueWallSt before June 8, 2026 to evaluate.

Q: What documents do I need to make a claim? A: Brokerage statements or trade confirmations showing purchase dates, share quantities, prices paid, and any subsequent sale dates and prices.

Q: What if I missed the lead plaintiff deadline? A: The deadline applies only to investors seeking lead plaintiff appointment. Class members who miss it can still participate in any settlement or recovery.

Q: What does it cost me to participate? A: Nothing. Securities class actions are handled on a pure contingency basis. No upfront fees, no retainer, no out-of-pocket costs.

Q: What happens after I contact SueWallSt? A: An attorney will review your trading history at no cost and provide an initial assessment of your potential recovery.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
[email protected]
Tel: (888) SueWallSt
Fax: (212) 363-7171

SOURCE SueWallSt.com