Open Lending(LPRO) Prnewswire·2025-05-09 09:45Core 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 capabilities of the Company's risk-based pricing models [2]. - It is alleged that the Company issued materially misleading statements about its profit share revenue [2]. - The complaint states that the Company failed to disclose that its 2021 and 2022 vintage loans had significantly decreased in value compared to their outstanding loan balances [2]. - Additionally, the lawsuit asserts that the underperformance of the Company's 2023 and 2024 vintage loans was misrepresented [2]. Group 2: Legal Process and Participation - Investors who suffered losses in Open Lending Corporation during the specified timeframe have until June 30, 2025, to request to be appointed as lead plaintiff [3]. - Participation in the lawsuit does not require individuals to serve as lead plaintiffs to share in any potential recovery [3]. - Class members may be entitled to compensation without incurring any out-of-pocket costs or fees [3]. Group 3: Firm Background - Levi & Korsinsky has a history of securing hundreds of millions of dollars for shareholders and has a strong track record in high-stakes securities litigation [4]. - The firm has been recognized in ISS Securities Class Action Services' Top 50 Report for seven consecutive years as one of the leading securities litigation firms in the United States [4].