SHAREHOLDER ALERT – Labaton Sucharow Notifies Upstart Holdings Inc. Investors of the Filing of a Class Action Lawsuit
NEW YORK–(BUSINESS WIRE)–Labaton Sucharow, a nationally ranked and award-winning shareholder rights firm, announces a securities class action lawsuit has been filed against Upstart Holdings Inc. (NASDAQ: UPST).
According to a filed complaint, Upstart, Inc. issued materially false and/or misleading statements and/or failed to disclose that: (1) Upstart’s AI model could not adequately account for macroeconomic factors such as interest rates that impact the market-clearing price for loans; (2) as a result, Upstart was experiencing a negative impact on its conversion rate; (3) as a result, the Company was reasonably likely to use its balance sheet to fund loans; and (4) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.
Investors who purchased the Company’s securities between November 9, 2021 and May 9, 2022, inclusive (the ”Class Period”), are encouraged to contact the firm before July 12, 2022.
If you currently own stock or options in Upstart Holdings Inc. and suffered a loss, click here to participate.
If you want to receive additional information and protect your investments free of charge, please contact David J. Schwartz using the toll-free number (800) 321-0476 or via email at david@labaton.com.
About the Firm
Labaton Sucharow LLP is one of the world’s leading complex litigation firms representing clients in securities, corporate governance and shareholder rights, consumer, and cybersecurity and data privacy litigation, as well as whistleblower representation. Labaton Sucharow has been recognized for its excellence by the courts and peers, and it is consistently ranked in leading industry publications. Offices are located in New York, NY, Wilmington, DE, and Washington, D.C. More information about Labaton Sucharow is available at labaton.com.
Contacts
David J. Schwartz
(800) 321-0476
david@labaton.com