LENDINGCLUB CORPORATION INVESTOR ALERT: Wolf Haldenstein Adler Freeman & Herz LLP announces a securities course action lawsuit happens to be filed in america District Court the Northern District of Ca against LendingClub Corporation

Lead Deadline that is plaintiff is 2, 2018

NY and HILLCREST, May 09, 2018 (GLOBE NEWSWIRE) — Wolf Haldenstein Adler Freeman & Herz LLP announces that a course action lawsuit happens to be filed in america District Court the Northern District of California against LendingClub Corporation (NYSE: LC) (“LendingClub”) on the part of purchasers of LendingClub publicly traded securities between February 28, 2015 and April 25, 2018, inclusive (the “Class Period”).

Investors who possess incurred losings in stocks of LendingClub Corporation are advised to make contact with the company at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may possibly get information that is additional the action on our internet site, www. Whafh.com.

You may, no later than July 2, 2018, request that the Court appoint you lead plaintiff of the proposed class if you have incurred losses in the shares of LendingClub Corporation and would like to assist with the litigation process as a lead plaintiff. Please contact Wolf Haldenstein for more information about your legal rights being an investor in LendingClub Corporation.

The filed problem alleges that, through the Class Period, defendants made false and/or statements that are misleading did not disclose that:

• LendingClub falsely promised consumers they might get that loan with “no fees that are hidden;
• LendingClub’s online privacy policy would not conform to the Gramm-Leach-Bliley Act;
• Consequently, the conduct that is foregoing matter LendingClub’s business practices to heightened regulatory scrutiny because of the Federal Trade Commission; and
• Because of this, defendants’ general public statements were materially false and deceptive anyway times that are relevant.

The Class Period starts on February 28, 2015, your day after LendingClub filed its report that is annual on 10-K for the season finished December 31, 2014 (“2014 10-K”) using the U.S. Securities and exchange Commission (“SEC”) which supplied LendingClub’s yearly monetary outcomes and place. The 2014 10-K stated that LendingClub thought that all installment loans provided through its marketplace showcased a fixed price that had been “plainly” disclosed into the debtor and which contained “no concealed charges. “

On April 25, 2018, the Federal Trade Commission (“FTC”) announced in a news release they would receive a loan with “no hidden fees, ” and the Gramm-Leach-Bliley Act for failing to provide customers with a clear and conspicuous privacy notice so that each customer could reasonably be expected to receive actual notice that it had filed a complaint against LendingClub alleging violations of the FTC Act for falsely promising consumers. The pr release stated, in relevant component: “The Federal Trade Commission has charged the LendingClub Corporation with falsely guaranteeing consumers they would get financing with ‘no concealed costs, ’ whenever, in fact, navigate to website the organization deducted hundreds if not 1000s of dollars in concealed up-front charges from loans. “

Third news, stocks of LendingClub dropped $0.49 per share, or higher 15per cent from the past closing price to shut at $2.77 per share on April 25, 2018.

Wolf Haldenstein Adler Freeman & Herz LLP has extensive experience with the prosecution of securities course actions and derivative litigation in state and federal test and appellate courts around the world. The company has lawyers in several training areas; and workplaces in nyc, Chicago and north park. The reputation and expertise with this company in shareholder as well as other course litigation happens to be over and over repeatedly acquiesced by the courts, that have appointed it to major roles in complex securities multi-district and consolidated litigation.

If you want to talk about this course of action or have any queries relating to your legal rights and interests in this instance, be sure to contact Wolf Haldenstein immediately by telephone at (800) 575-0735, via email at classmember@whafh.com, or see our site at www. Whafh.com.

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Wolf Haldenstein Adler Freeman & Herz LLP Kevin Cooper, Esq. Gregory rock, Director of Case and Financial AnalysisEmail: gstone@whafh.com, kcooper@whafh.com or classmember@whafh. ComTel: (800) 575-0735 or (212) 545-4774

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