Open Lending(LPRO) Prnewswire·2025-05-30 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 Company's risk-based pricing models and profit share revenue [2]. - It is alleged that the Company failed to disclose that its 2021 and 2022 vintage loans had significantly depreciated in value compared to their outstanding loan balances [2]. - The complaint also states that the defendants misrepresented the underperformance of the Company's 2023 and 2024 vintage loans, leading to misleading positive statements about the Company's business and prospects [2]. Group 2: Legal Process and Participation - Investors who suffered losses during the specified timeframe have until June 30, 2025, to request to be appointed as lead plaintiff, although participation in any recovery does not require this [3]. - Class members may be entitled to compensation without any out-of-pocket costs or fees, indicating no financial obligation to participate in the lawsuit [3]. Group 3: Firm Background - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions of dollars for shareholders over the past 20 years [4]. - The firm has been recognized in ISS Securities Class Action Services' Top 50 Report for seven consecutive years, highlighting its expertise in complex securities litigation [4].