UPST ALERT: The Klein Law Firm Announces a Lead Plaintiff Deadline of July 12, 2022 in the Class Action Filed on Behalf of Upstart, Inc. Limited Shareholders
New York, New York--(Newsfile Corp. - May 20, 2022) - The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Upstart, Inc. (NASDAQ: UPST) alleging that the Company violated federal securities laws.
Class Period: March 18, 2021 to May 9, 2022
Lead Plaintiff Deadline: July 12, 2022
No obligation or cost to you.
Learn more about your recoverable losses in UPST:
Upstart, Inc. NEWS - UPST NEWS
CLASS ACTION CASE DETAILS: The filed complaint alleges that Upstart, Inc. made 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.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in Upstart you have until July 12, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased Upstart securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
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