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 were worth significantly less than 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 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 [3]. Group 3: Firm Background - Levi & Korsinsky has a history of securing hundreds of millions of dollars for shareholders and has been recognized as one of the top securities litigation firms in the United States for seven consecutive years [4].

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 is headquartered in Austin, Texas, and 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 devaluation 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, leading to 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 heightened 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 continued 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].

Core Viewpoint - A class action lawsuit has been filed against Open Lending Corporation, alleging that the company made materially false or misleading statements regarding its financial performance and risk-based pricing model during the class period from February 24, 2022, to March 31, 2025 [3][4]. Group 1: Allegations of Misrepresentation - The lawsuit claims that Open Lending misrepresented the effectiveness and functionality of its risk-based pricing model [3]. - It is alleged that the company made materially inaccurate statements concerning its profit share revenue [3]. - The lawsuit also states that Open Lending failed to disclose a significant decline in the value of its 2021 and 2022 vintage loans relative to their outstanding balances [3]. - Additionally, the defendants are accused of mischaracterizing the poor performance of the company's 2023 and 2024 vintage loans [3]. Group 2: Impact on Stock Price - Following the announcement on March 17, 2025, that Open Lending would be unable to timely file its 2024 Annual Report due to accounting and review procedures related to profit share revenue, the company's stock price declined by over 9% [4]. Group 3: Legal Representation - The Portnoy Law Firm is representing investors in this class action lawsuit and offers complimentary case evaluations to discuss options for recovering losses [2][5]. - Investors have until June 30, 2025, to file a lead plaintiff motion [1].

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]. Group 1: Class Action Details - The class action lawsuit is titled Bradley v. Open Lending Corporation and covers purchasers of Open Lending securities from February 24, 2022, to March 31, 2025 [1]. - Investors have until June 30, 2025, to seek appointment as lead plaintiff in the lawsuit [1][6]. - The lawsuit alleges that Open Lending misrepresented its risk-based pricing model and profit share revenue, and failed to disclose significant declines in the value of its vintage loans from 2021 and 2022 [3]. Group 2: Financial Performance and Impact - On March 17, 2025, Open Lending announced it would delay its Annual Report for 2024 due to issues with accounting and profit share revenue, leading to a stock price drop of over 9% [4]. - The financial results released on March 31, 2025, showed 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 [5]. - Open Lending reported a net loss of $144 million, which included an $86.1 million valuation allowance on deferred tax assets, and announced a change in executive leadership [5]. Group 3: Legal Representation - Robbins Geller Rudman & Dowd LLP is representing investors in the class action lawsuit and has a strong track record in securities fraud litigation, recovering over $2.5 billion for investors in 2024 alone [7][8].

Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Open Lending Corporation regarding a class action lawsuit due to alleged misleading statements and omissions related to the company's financial performance and risk-based pricing models [1][3]. Summary by Relevant Sections Class Action Details - The class period for the lawsuit is from February 24, 2022, to March 31, 2025 [3]. - Allegations include misrepresentation of the company's risk-based pricing models, misleading statements about profit share revenue, and failure to disclose the devaluation of vintage loans from 2021 and 2022 [3]. Shareholder Actions - Shareholders are encouraged to register for the class action by June 30, 2025, to potentially be appointed as lead plaintiffs [4]. - Registration allows shareholders to receive updates through a portfolio monitoring software regarding the case's progress [4]. Law Firm Background - The Gross Law Firm is recognized nationally for class action lawsuits and aims to protect investors from deceit and fraud [5]. - The firm emphasizes the importance of responsible business practices and seeks recovery for investors affected by misleading corporate statements [5].

Core Points - A shareholder class action lawsuit has been filed against Open Lending Corporation, alleging that the company made materially false and misleading statements regarding its business and operations [1] - The lawsuit claims that Open Lending misrepresented the capabilities of its risk-based pricing models and issued misleading statements about its profit share revenue [1] - It is also alleged that the company 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 [1] Legal Context - Shareholders who purchased Open Lending shares between February 24, 2022, and March 31, 2025, and suffered significant losses are encouraged to discuss their legal rights [2] - The deadline to request to be appointed as lead plaintiff in the case is June 30, 2025 [3] - Holzer & Holzer, LLC is representing the shareholders and has a history of recovering significant amounts for investors affected by corporate misconduct [3]

Financial Performance - Q4 2024 - Revenue decreased significantly to $(56.9) million, compared to $14.9 million in Q4 2023 [3] - Adjusted EBITDA also showed a substantial decrease to $(73.1) million, compared to $(2.1) million in Q4 2023 [3] Financial Performance - Full Year 2024 - Revenue decreased to $24.0 million, a significant drop from $117.5 million in FY 2023 [6] - Adjusted EBITDA decreased to $(42.9) million, compared to $50.2 million in FY 2023 [6] Key Performance Indicators - Total Certs decreased slightly to 26,065 in Q4 2024 from 26,263 in Q4 2023 [3] - Total Certs decreased to 110,652 in FY 2024 from 122,984 in FY 2023 [6] - Average Profit Share Revenue per Cert decreased to $314 in Q4 2024 from $501 in Q4 2023 [10] - Average Profit Share Revenue per Cert decreased to $479 in FY 2024 from $538 in FY 2023 [10] - Facilitated Loan Origination Volume decreased to $732.129 million in Q4 2024 from $764.149 million in Q4 2023 [10] - Facilitated Loan Origination Volume decreased to $3,111.753 million in FY 2024 from $3,614.303 million in FY 2023 [10] Strategic Focus - The new CEO plans to focus on profitable unit economics, growth, and pricing approaches to enhance predictability and reduce volatility [8, 9] - The company aims to enhance tools and scorecards to predict the frequency and severity of defaults [9] - The company is identifying potential cost efficiencies and process improvements throughout the loan life cycle [9]

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]. Group 1: Lawsuit Details - The lawsuit is on behalf of investors who purchased Open Lending securities during the specified Class Period [1][2]. - Investors have until June 30, 2025, to seek appointment as lead plaintiff representative of the class [2]. Group 2: Allegations Against the Company - The complaint alleges that Open Lending misrepresented its risk-based pricing models and profit share revenue [3]. - It is claimed that the company failed to disclose that its 2021 and 2022 vintage loans were worth significantly less than their outstanding balances [3]. - The underperformance of the company's 2023 and 2024 vintage loans was also misrepresented [3]. Group 3: Financial Disclosures and Impact - On March 17, 2025, Open Lending announced it would delay its Annual Report for 2024, leading to a 9% drop in share price to $3.91 [4]. - The company reported a quarterly revenue of negative $56.9 million for Q4 2024, primarily due to an $81.3 million reduction in estimated profit share revenues linked to heightened delinquencies and defaults [5]. - Following the financial disclosures, Open Lending's share price plummeted by 57% to close at $1.17 on April 1, 2025 [6].

Core Viewpoint - Rosen Law Firm is reminding investors who purchased Open Lending Corporation securities between February 24, 2022, and March 31, 2025, of the June 30, 2025, lead plaintiff deadline for a class action lawsuit [1] Group 1: Class Action Details - Investors who purchased Open Lending securities during the specified Class Period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2] - A class action lawsuit has already been filed, and interested parties must move the Court to serve as lead plaintiff by June 30, 2025 [3] - Investors can join the class action by visiting the provided link or contacting the law firm directly for more information [6] Group 2: Law Firm Credentials - Rosen Law Firm has a strong track record in securities class actions, having achieved the largest securities class action settlement against a Chinese company at the time [4] - The firm was ranked No. 1 by ISS Securities Class Action Services for the number of securities class action settlements in 2017 and has consistently ranked in the top 4 since 2013, recovering hundreds of millions for investors [4] - In 2019, the firm secured over $438 million for investors, showcasing its effectiveness in litigation [4] Group 3: Case Allegations - The lawsuit alleges that defendants made materially false and misleading statements and failed to disclose adverse facts about Open Lending's business and operations [5] - Specific allegations include misrepresentations regarding the capabilities of Open Lending's risk-based pricing models and misleading statements about profit share revenue [5] - The lawsuit claims that the true details about the company's performance led to investor damages when revealed [5]

Core Points - The article discusses a class action lawsuit against Open Lending Corporation (NASDAQ: LPRO) for misleading statements made during the Class Period from February 24, 2022, to March 31, 2025 [1][5] - Investors who purchased Open Lending securities during this period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2] Company Information - The lawsuit alleges that Open Lending's defendants made materially false and misleading statements regarding the company's risk-based pricing models, profit share revenue, and the value of vintage loans from 2021 and 2022 [5] - It is claimed that the defendants failed to disclose that the 2021 and 2022 vintage loans were worth significantly less than their outstanding loan balances, and misrepresented the underperformance of the 2023 and 2024 vintage loans [5] - The misleading statements led to investor damages when the true details about Open Lending's business and operations became known [5] Legal Process - A lead plaintiff must be appointed by June 30, 2025, to represent other class members in the litigation [3] - The Rosen Law Firm emphasizes the importance of selecting qualified legal counsel with a successful track record in securities class actions [4]