LPRO INVESTOR ALERT: Robbins Geller Rudman & Dowd LLP Announces that Open Lending Corporation Investors with Substantial Losses Have Opportunity to Lead the Open Lending Class Action Lawsuit

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: Lawsuit 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, with a deadline of June 30, 2025, for seeking lead plaintiff status [1][6]. - Allegations include misrepresentation of Open Lending's risk-based pricing model, misleading statements about profit share revenue, and failure to disclose the declining value of vintage loans from 2021 and 2022 [3][4]. Group 2: Financial Performance - 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 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 increased delinquencies and defaults on loans from 2021 to 2024 [5]. - Open Lending reported a net loss of $144 million, impacted by an $86.1 million valuation allowance on deferred tax assets, and announced the appointment of a new CEO and COO, leading to a nearly 58% drop in stock price [5]. Group 3: Legal Process - 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, representing the interests of the class [6].