LPRO INVESTOR NOTICE: Open Lending Corporation Investors with Substantial Losses Have Opportunity to Lead 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]. 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 its profit share revenue [3]. - It is claimed that Open Lending failed to disclose that its 2021 and 2022 vintage loans had significantly decreased in value compared to their outstanding loan balances [3]. - The underperformance of Open Lending's 2023 and 2024 vintage loans was also allegedly misrepresented [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 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, which increased its income tax expense [5]. - Following these disclosures, Open Lending's stock price fell nearly 58% [5]. Legal Process - Investors who purchased Open Lending securities during the class period can seek appointment as lead plaintiff in the class action lawsuit, representing the interests of all class members [6]. Law Firm Background - 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].