NEW YORK - April 2, 2025 (NEWMEDIAWIRE) - Kaplan Fox & Kilsheimer LLP is investigating potential securities violations against Open Lending Corporation (“Open Lending” or the “Company”) (NASDAQ: LPRO).
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If you are an Open Lending investor and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing pmayer@kaplanfox.com or by calling (646) 315-9003.
On March 17, 2025, after markets closed, the Company disclosed a delay in filing its annual report on Form 10-K and postponed its fourth quarter and full-year 2024 earnings results and conference call.
Following this news, the price of Open Lending stock fell $3.48 per share, nearly 11%, to close at $3.48 on March 18, 2025.
On March 31, 2025, after markets closed, the Company reported that “adjustments attributable to the Company’s profit share revenue forecast resulted in a negative change in estimate of $81.3 million, primarily due to heightened delinquencies and corresponding defaults associated with loans originated in 2021 through 2024.” This $81.3 million reversal led to total revenue in the fourth quarter of negative $56.9 million compared to $14.9 million revenue in the prior year’s fourth quarter and a $144.4 million net loss for the fourth quarter - a substantial year-over-year increase compared to the net loss of $4.8 million in the fourth quarter of 2023. The Company also disclosed significant leadership changes, including a new CEO effective immediately.
Following this news, the price of Open Lending stock fell $1.59, over 57%, to close at $1.17 on April 1, 2025.
WHY CONTACT KAPLAN FOX - Kaplan Fox is a leading national law firm focusing on complex litigation with offices in New York, Oakland, Los Angeles, Chicago and New Jersey. With over 50 years of experience in securities litigation, Kaplan Fox offers the professional experience and track record that clients demand. Through prosecuting cases on the federal and state levels, Kaplan Fox has successfully shaped the law through winning many important decisions on behalf of our clients. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.
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If you have any questions about this investigation, please contact:
CONTACT:
Pamela A. Mayer
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(646) 315-9003
pmayer@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
lking@kaplanfox.com
Contacting or submitting information to Kaplan Fox & Kilsheimer LLP does not create an attorney-client relationship, nor an obligation on the part of Kaplan Fox to retain you as a client.
https://www.kaplanfox.com/case/open-lending-corporation/
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