SOURCE: Levi & Korsinsky, LLP

Levi & Korsinsky, LLP

May 24, 2016 10:08 ET

SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Shareholders of LendingClub Corporation of Class Action Lawsuit and a Lead Plaintiff Deadline of July 15, 2016 -- LC

NEW YORK, NY--(Marketwired - May 24, 2016) - The following statement is being issued by Levi & Korsinsky, LLP:

To: All persons or entities who purchased or otherwise acquired securities of LendingClub Corporation ("LendingClub") (NYSE: LCpursuant to and/or traceable to the Registration Statement and Prospectus issued in connection with the Initial Public Offering on or about December 11, 2014 or who purchased shares from December 11, 2014 through May 6, 2016. You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the Northern District of California. To get more information go to:

http://www.zlk.com/pslra/lendingclub

or contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The complaint alleges that throughout the Class Period defendants issued false and misleading statements to investors and/or failed to disclose that: (1) LendingClub's internal controls were inadequate to ensure that LendingClub's loans conformed to its customers' criteria; (2) LendingClub's internal controls were inadequate to ensure that relevant interests in third-party transactions were fully and timely disclosed; and (3) as a result, LendingClub's public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

If you suffered a loss in LendingClub you have until July 15, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information

  • CONTACT:
    Levi & Korsinsky, LLP
    Joseph E. Levi, Esq.
    30 Broad Street - 24th Floor
    New York, NY 10004
    Tel: (212) 363-7500
    Toll Free: (877) 363-5972
    Fax: (212) 363-7171
    www.zlk.com