Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In Open Lending To Contact Him Directly To Discuss Their OptionsIf you purchased or acquired securities in Open Lending between February 24, 2022 and March 31, 2025 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).[You may also click here for additional information]NEW YORK, June 6, 2025 /PRNewswire/ -- Faruq ...

Core Viewpoint - A class action securities lawsuit has been filed against Open Lending Corporation, alleging securities fraud that affected investors between February 24, 2022, and March 31, 2025 [1][2]. Group 1: Allegations of Fraud - The lawsuit claims that the defendants made false statements regarding the Company's risk-based pricing models and profit share revenue [2]. - It is alleged that the Company failed to disclose that its 2021 and 2022 vintage loans had significantly depreciated in value compared to their outstanding loan balances [2]. - The complaint also states that the defendants misrepresented the underperformance of the Company's 2023 and 2024 vintage loans, leading to materially misleading statements about the Company's business and prospects [2]. Group 2: Legal Process and Participation - Investors who suffered losses during the specified timeframe have until June 30, 2025, to request appointment as lead plaintiff, although participation in any recovery does not require this role [3]. - Class members may be entitled to compensation without incurring any out-of-pocket costs or fees, with no obligation to participate [3]. Group 3: Firm Background - Levi & Korsinsky, LLP has a history of securing hundreds of millions of dollars for shareholders and is recognized as one of the top securities litigation firms in the United States [4].

Core Points - The Gross Law Firm has issued a notice to shareholders of Open Lending Corporation (NASDAQ: LPRO) regarding a class action lawsuit for shareholders who purchased shares during the class period from February 24, 2022, to March 31, 2025 [1] - Allegations against the company include misrepresentation of risk-based pricing models, misleading statements about profit share revenue, failure to disclose the depreciation of vintage loans from 2021 and 2022, and misrepresentation of the performance of 2023 and 2024 vintage loans [1] - The deadline for shareholders to register for the class action is June 30, 2025, and there is no cost or obligation to participate [2] Company and Industry Summary - The Gross Law Firm is a nationally recognized class action law firm focused on protecting investors' rights against deceit, fraud, and illegal business practices [3] - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements or omissions that inflated stock prices [3]

Core Viewpoint - Open Lending Corporation is facing a class action lawsuit for alleged violations of the Securities Exchange Act of 1934, with claims of misleading statements regarding its financial performance and risk analytics solutions [1][3]. Company Overview - Open Lending provides lending enablement and risk analytics solutions to credit unions, regional banks, finance companies, and captive finance companies of automakers [2]. Allegations - The lawsuit alleges that Open Lending misrepresented the capabilities of its risk-based pricing model and issued materially misleading statements regarding profit share revenue [3]. - It is claimed that Open Lending failed to disclose that its 2021 and 2022 vintage loans were worth significantly less than their outstanding loan balances, and misrepresented the underperformance of its 2023 and 2024 vintage loans [3]. Financial Disclosures - On March 17, 2025, Open Lending announced it would be unable to timely file its Annual Report for 2024, leading to a stock price drop of over 9% [4]. - The financial results for Q4 and full year 2024 revealed a quarterly revenue of negative $56.9 million, attributed to an $81.3 million reduction in estimated profit share revenues due to heightened delinquencies and defaults [5]. - Open Lending reported a net loss of $144 million, impacted by a valuation allowance on deferred tax assets of $86.1 million, which increased its income tax expense [5]. Management Changes - Following the financial disclosures, Open Lending appointed a new CEO and COO, replacing Charles D. Jehl, who had been serving as CEO, COO, and CFO [5]. Legal Process - Investors who purchased Open Lending securities during the class period can seek appointment as lead plaintiff in the class action lawsuit, which allows them to act on behalf of other class members [6].

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Open Lending Corporation due to alleged violations of federal securities laws, with a deadline for investors to seek lead plaintiff status by June 30, 2025 [3][5]. Group 1: Allegations Against Open Lending - The complaint alleges that Open Lending and its executives made false or misleading statements and failed to disclose material adverse facts about the company's business and operations [5]. - Specific allegations include misrepresentation of the company's risk-based pricing models, misleading statements regarding profit share revenue, and failure to disclose the significant depreciation of 2021 and 2022 vintage loans [5]. - The company is accused of misrepresenting the underperformance of its 2023 and 2024 vintage loans, leading to materially misleading statements about its business prospects [5]. Group 2: Stock Price Impact - Following the announcement of a postponed earnings release on March 17, 2025, Open Lending's stock price fell by $0.40, or 9.3%, closing at $3.91 per share [7]. - On March 31, 2025, the company reported a significant year-over-year increase in net loss for Q4 2024, which contributed to a further decline in stock price [7]. - On April 1, 2025, Open Lending's stock price dropped by $1.59, or 57.61%, closing at $1.17 per share, indicating substantial investor injury [8]. Group 3: Legal Proceedings - The court-appointed lead plaintiff will be the investor with the largest financial interest in the relief sought, who will oversee the litigation on behalf of the class [9]. - Any member of the class can move to serve as lead plaintiff or remain an absent class member without affecting their ability to share in any recovery [9]. - Faruqi & Faruqi encourages individuals with information regarding Open Lending's conduct to come forward, including whistleblowers and former employees [10].

Core Viewpoint - A class action lawsuit has been filed against Open Lending Corporation, alleging securities fraud and unlawful business practices by the company and certain officers and directors [2][4]. Group 1: Lawsuit Details - Investors are encouraged to contact Pomerantz LLP if they purchased Open Lending securities during the class period, with a deadline to apply as Lead Plaintiff by June 30, 2025 [2][3]. - The lawsuit follows Open Lending's failure to timely file its Annual Report for 2024, citing the need for additional time to finalize accounting related to profit share revenue [4]. Group 2: Financial Performance - On March 31, 2025, Open Lending reported a quarterly revenue of negative $56.9 million, attributed to an $81.3 million reduction in estimated profit share revenues due to increased delinquencies and defaults on loans originated between 2021 and 2024 [5]. - Following the financial disclosure, Open Lending's stock price dropped significantly, falling $1.59 per share, or 57.61%, to close at $1.17 per share on April 1, 2025 [6]. Group 3: Management Changes - Open Lending announced the appointment of a new CEO and COO, replacing Charles D. Jehl, who previously held multiple executive roles [5].

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Open Lending Corporation due to alleged violations of federal securities laws, encouraging affected investors to come forward before the June 30, 2025 deadline for lead plaintiff applications in a class action lawsuit [2][4]. Group 1: Allegations Against Open Lending - The complaint alleges that Open Lending and its executives made false or misleading statements and failed to disclose material adverse facts about the company's business and operations [4]. - Specific allegations include misrepresentation of the company's risk-based pricing models, misleading statements regarding profit share revenue, and failure to disclose the significant depreciation of 2021 and 2022 vintage loans [4]. - The complaint also claims that the company misrepresented the underperformance of its 2023 and 2024 vintage loans, leading to materially misleading positive statements about its business prospects [4]. Group 2: Stock Price Impact - On March 17, 2025, Open Lending postponed its earnings release and conference call, resulting in a stock price drop of $0.40, or 9.3%, closing at $3.91 per share [5]. - Following the announcement of a substantial year-over-year increase in net loss for Q4 2024 and significant leadership changes on March 31, 2025, the stock price plummeted by $1.59, or 57.61%, closing at $1.17 per share on April 1, 2025 [6]. Group 3: Legal Proceedings - The lead plaintiff in the class action will be the investor with the largest financial interest who is also adequate and typical of class members, overseeing the litigation on behalf of the class [7]. - Any member of the putative class can move to serve as lead plaintiff or choose to remain an absent class member without affecting their ability to share in any recovery [7].

Core Viewpoint - A class action securities lawsuit has been filed against Open Lending Corporation, alleging securities fraud that affected investors between February 24, 2022, and March 31, 2025 [1][2]. Group 1: Allegations of Fraud - The lawsuit claims that the defendants made false statements regarding the Company's risk-based pricing models and profit share revenue [2]. - It is alleged that the Company failed to disclose that its 2021 and 2022 vintage loans had significantly depreciated in value compared to their outstanding loan balances [2]. - The complaint also states that the defendants misrepresented the underperformance of the Company's 2023 and 2024 vintage loans, leading to misleading positive statements about the Company's business and prospects [2]. Group 2: Legal Process and Participation - Investors who suffered losses during the specified timeframe have until June 30, 2025, to request to be appointed as lead plaintiff, although participation in any recovery does not require this [3]. - Class members may be entitled to compensation without any out-of-pocket costs or fees, indicating no financial obligation to participate in the lawsuit [3]. Group 3: Firm Background - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions of dollars for shareholders over the past 20 years [4]. - The firm has been recognized in ISS Securities Class Action Services' Top 50 Report for seven consecutive years, highlighting its expertise in complex securities litigation [4].

Core Viewpoint - Open Lending Corporation is facing a class action lawsuit for alleged violations of the Securities Exchange Act of 1934, with claims of misleading statements regarding its financial performance and risk analytics solutions [1][3]. Summary by Sections Class Action Lawsuit Details - The lawsuit, titled Bradley v. Open Lending Corporation, allows purchasers of Open Lending securities from February 24, 2022, to March 31, 2025, to seek lead plaintiff status by June 30, 2025 [1]. - The firm Robbins Geller Rudman & Dowd LLP is representing the plaintiffs in this case [2]. Allegations Against Open Lending - The lawsuit alleges that Open Lending misrepresented its risk-based pricing model and profit share revenue, failed to disclose significant losses in vintage loans from 2021 and 2022, and misrepresented the performance of loans from 2023 and 2024 [3]. - On March 17, 2025, Open Lending announced it could not timely file its Annual Report for 2024, leading to a stock price drop of over 9% [4]. Financial Performance - On March 31, 2025, Open Lending reported a quarterly revenue of negative $56.9 million, attributed to an $81.3 million reduction in estimated profit share revenues due to increased delinquencies and defaults on loans from 2021 to 2024 [5]. - The company also disclosed a net loss of $144 million, impacted by an $86.1 million valuation allowance on deferred tax assets, and announced a change in leadership with a new CEO and COO appointed [5]. Legal Process for Lead Plaintiff - The Private Securities Litigation Reform Act of 1995 allows any investor who purchased Open Lending securities during the class period to seek lead plaintiff status, which involves directing the lawsuit on behalf of all class members [6]. About Robbins Geller - Robbins Geller Rudman & Dowd LLP is a leading law firm in securities fraud and shareholder litigation, having recovered over $2.5 billion for investors in 2024 alone [7].

Core Viewpoint - A securities class action lawsuit has been filed against Open Lending Corporation for misrepresentation and failure to disclose significant financial issues during the Class Period from February 24, 2022, to March 31, 2025 [1][3]. Company Overview - Open Lending Corporation, headquartered in Austin, Texas, provides loan services to auto lenders through a cloud-based auto lending protection platform [2]. Allegations - The lawsuit claims that Open Lending misrepresented its risk-based pricing models and profit share revenue, failed to disclose the diminished value of its 2021 and 2022 vintage loans, and misrepresented the underperformance of its 2023 and 2024 vintage loans [3]. Financial Disclosure - On March 17, 2025, Open Lending announced it would delay its Annual Report for 2024 due to issues with accounting and profit share revenue, resulting in a 9% drop in share price to $3.91 [4]. - The company reported a quarterly revenue of negative $56.9 million for Q4 2024, attributed to an $81.3 million reduction in estimated profit share revenues due to increased delinquencies and defaults on loans from 2021 to 2024 [5]. - The decline in estimated profit share was linked to the deterioration of 2021 and 2022 vintages, underperformance of 2023 and 2024 vintages, and ongoing elevated delinquencies [5]. Market Reaction - Following the financial disclosures, Open Lending's share price plummeted by 57% to close at $1.17 on April 1, 2025 [6].