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Stock impact report

LOANDEPOT ALERT: Bragar Eagel & Squire, P.C. is Investigating loanDepot on Behalf of Long-Term Stockholders and Encourages Investors to Contact the Firm [MarketWatch]

loanDepot, Inc. Class A (LDI) 
Company Research Source: MarketWatch
NEW YORK, (BUSINESS WIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against loanDepot (NYSE: LDI) on behalf of long-term stockholders following a class action complaint that was filed against loanDepot on September 3, 2021. Our investigation concerns whether the board of directors of loanDepot have breached their fiduciary duties to the company. According to the complaint, loanDepot violated the Securities Act of 1933 because the Registration Statement failed to disclose that: (1) the Company's loan originations had already declined substantially at the time of the IPO due to industry over-capacity and increased competition; (2) that the Company's gain-on-sale margins had already declined substantially at the time of the IPO; (3) that, as a result, the Company's revenue and growth would be negatively impacted; (4) that the Company had already been forced to embark on a significant expense reduction plan du Show less Read more
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