LDI Investors Have Opportunity to Lead loanDepot, Inc. Securities Lawsuit

LDI Investors Have Opportunity to Lead loanDepot, Inc. Securities Lawsuit

PR Newswire

BENSALEM, Pa., Oct. 28, 2021

BENSALEM, Pa., Oct. 28, 2021 /PRNewswire/ -- Law Offices of Howard G. Smith announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against loanDepot, Inc. (NYSE: LDI). The action seeks a recovery for investors that purchased loanDepot, Inc. shares following the Company's February 2021 IPO.

Lead Plaintiff Deadline: November 8, 2021

Investors suffering losses on their loanDepot investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to [email protected].

The complaint filed in the action alleges that, the defendants failed to disclose to investors that: (1) loanDepot's refinance originations had already declined substantially at the time of the IPO due to industry over-capacity and increased competition; (2) loanDepot's gain-on-sale margins had already declined substantially at the time of the IPO; (3) as a result, loanDepot's revenue and growth would be negatively impacted; and (4) as a result, the defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts 
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
[email protected]
www.howardsmithlaw.com

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SOURCE Law Offices of Howard G. Smith

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