Live Oak(US:LOB) Globenewswire·2025-12-30 21:15Core Viewpoint - Pomerantz LLP is investigating potential securities fraud or unlawful business practices by Live Oak Bancshares, Inc. and its officers or directors, following the company's announcement of material misclassifications in its financial statements [1][3]. Group 1: Company Financials - On November 12, 2025, Live Oak disclosed that it would amend its 2024 Annual Report and Quarterly Reports for the periods ended March 31, 2025, and June 30, 2025, to restate its Consolidated Financial Statements due to errors in cash flow classifications [3]. - The company identified a material misclassification related to cash flows from the sale of loan participations, which led to a conclusion that a material weakness exists in its internal control over financial reporting [3]. - Following this announcement, Live Oak's stock price decreased by $0.80 per share, or 2.49%, closing at $31.29 per share on November 13, 2025 [3]. Group 2: Legal Investigation - Pomerantz LLP is actively seeking claims from investors of Live Oak Bancshares, indicating a potential class action lawsuit due to the alleged securities fraud [1]. - Investors are encouraged to contact Pomerantz LLP for more information regarding the investigation and potential participation in the class action [1][2]. Group 3: Firm Background - Pomerantz LLP is recognized as a leading firm in corporate, securities, and antitrust class litigation, with a history of fighting for victims of securities fraud and corporate misconduct [4]. - The firm has a legacy of recovering significant damages for class members over its 85-year history [4].