LPRO INVESTOR ALERT: Open Lending Corporation Investors with Substantial Losses Have Opportunity to Lead Securities 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: Class Action 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 [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 filing 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 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 increased delinquencies and defaults on loans from 2021 to 2024 [5]. - Open Lending also disclosed a net loss of $144 million, impacted by an $86.1 million valuation allowance on deferred tax assets, and appointed a new CEO and COO, resulting in a nearly 58% drop in stock price [5].