MONDAY INVESTOR DEADLINE: Open Lending Corporation Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit - LPRO

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]. Summary by Sections Class Action Lawsuit Details - The class action lawsuit, titled Bradley v. Open Lending Corporation, is open for investors who purchased Open Lending securities between February 24, 2022, and March 31, 2025, to seek appointment as lead plaintiff [1]. - The lawsuit alleges that Open Lending and certain executives made false statements about the company's risk-based pricing model and profit share revenue [3]. Allegations Against Open Lending - Specific allegations include misrepresentation of the capabilities of Open Lending's risk-based pricing model, misleading statements about profit share revenue, and failure to disclose significant declines in the value of vintage loans from 2021 and 2022 [3]. - The lawsuit claims that on March 17, 2025, Open Lending announced it would not timely file its Annual Report for 2024, leading to a stock price drop of over 9% [4]. Financial Performance and Impact - On March 31, 2025, Open Lending reported 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 on loans from 2021 to 2024 [5]. - The company also disclosed a net loss of $144 million, impacted by an $86.1 million valuation allowance on deferred tax assets, and announced a change in leadership with a new CEO and COO [5]. Lead Plaintiff Process - The Private Securities Litigation Reform Act of 1995 allows any investor who purchased Open Lending securities during the class period to seek lead plaintiff status, which involves directing the lawsuit on behalf of all class members [6]. About Robbins Geller - Robbins Geller Rudman & Dowd LLP is a leading law firm in securities fraud and shareholder litigation, having recovered over $2.5 billion for investors in 2024 alone [7].