Open Lending(LPRO) Prnewswire·2025-05-19 19:01Core Viewpoint - Open Lending Corporation (NASDAQ: LPRO) is facing a class action lawsuit due to allegations of false statements and misrepresentations regarding its business operations and financial performance [1][2]. Allegations - The lawsuit claims that the defendants misrepresented the capabilities of the company's risk-based pricing models [1]. - It is alleged that the company issued materially misleading statements about its profit share revenue [1]. - 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 [1]. - Additionally, the underperformance of the company's 2023 and 2024 vintage loans was allegedly misrepresented [1]. Class Action Details - The class period for the lawsuit is from February 24, 2022, to March 31, 2025 [1]. - Shareholders are encouraged to register for the class action by June 30, 2025, to potentially become lead plaintiffs [2]. - Participants will be enrolled in a portfolio monitoring software to receive updates on the case [2]. Law Firm Background - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting investors' rights against deceit and fraud [3]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements [3].