LPRO INVESTOR DEADLINE: Robbins Geller Rudman & Dowd LLP Announces that Open Lending Corporation Investors with Substantial Losses Have Opportunity to Lead Shareholder 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 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 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 financial results released on March 31, 2025, showed a quarterly revenue of negative $56.9 million, attributed to an $81.3 million reduction in estimated profit share revenues due to increased delinquencies and defaults [5]. - Open Lending reported a net loss of $144 million, which included an $86.1 million valuation allowance on deferred tax assets, and announced a change in executive leadership [5]. Group 3: Legal Representation - Robbins Geller Rudman & Dowd LLP is representing investors in the class action lawsuit and has a strong track record in securities fraud litigation, recovering over $2.5 billion for investors in 2024 alone [7][8].