SOURCE: Faruqi & Faruqi, LLP

Faruqi & Faruqi, LLP

August 17, 2015 12:09 ET

INVESTOR ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In On Deck Capital, Inc. To Contact The Firm

NEW YORK, NY--(Marketwired - August 17, 2015) - Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in On Deck Capital, Inc. ("On Deck" or the "Company") (NYSE: ONDK) of the October 5, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.

The lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of a class consisting of all persons or entities who purchased On Deck securities traceable to On Deck's Registration Statement issued in connection with the Company's December 16, 2014 initial public offering ("IPO").

The complaint alleges that the Company and its officers failed to disclose the steadily increasing true rate of default and the declining true value of the Company's loan portfolio.

After reports disclosed the Company's increasing default rate on its loan portfolio and failing business model, On Deck common stock dropped to a low of $11.15 per share on July 1, 2015. The drop represents a decline of 44.3% from the IPO price of $20.00 per share and a decline of 61.5% from the stock price's high of almost $29.00 per share on December 18, 2014. The Company's stock price has declined even further, closing at $9.07 on August 13, 2015.

Request more information now by clicking here: www.faruqilaw.com/ONDK. There is no cost or obligation to you.

Take Action

If you invested in On Deck stock or options between December 16, 2014 and August 3, 2015 and would like to discuss your legal rights, visit www.faruqilaw.com/ ONDK. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding On Deck's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

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Contact Information

  • FARUQI & FARUQI, LLP
    369 Lexington Avenue, 10th Floor
    New York, NY 10017
    Attn: Richard Gonnello, Esq.
    Email contact
    Telephone: (877) 247-4292 or (212) 983-9330