SHAREHOLDER ALERT: The Gross Law Firm Notifies Shareholders of Upstart, Inc. of a Class Action Lawsuit and a Lead Plaintiff Deadline of July 12, 2022 - (UPST)
New York, New York--(Newsfile Corp. - May 17, 2022) - The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders of Upstart, Inc. (NASDAQ: UPST).
Shareholders who purchased shares of UPST during the class period listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.
CONTACT US HERE:
CLASS PERIOD : November 9, 2021 to May 9, 2022
ALLEGATIONS : The complaint alleges that during the class period, Defendants 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.
DEADLINE: July 12, 2022 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/upstart-inc-loss-submission-form/?id=27376&from=5
NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of UPST during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is July 12, 2022. There is no cost or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Phone: (212) 537-9430
Fax: (833) 862-7770
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/124417