Thieler Law Corp advises investors with losses exceeding $100,000 of the July 15, 2016 lead plaintiff deadline in a class action lawsuit filed against LendingClub Corporation (NYSE: LC) (“LendingClub” or “the Company”). The suit is pending in the U.S. District Court for the Northern District of California and investors, who purchased LendingClub securities between December 11, 2014 and May 6, 2016, have until July 15, 2016 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased LendingClub securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing mail@thielerlaw.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.

The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that LendingClub’s internal controls were inadequate to ensure that LendingClub’s loans conformed to its customers’ criteria; LendingClub’s internal controls were inadequate to ensure that relevant interests in third-party transactions were fully and timely disclosed; and as a result, LendingClub’s public statements were materially false and misleading at all relevant times.

On May 9, 2016, LendingClub revealed Chairman and CEO, Renaud Laplanch resignation. His resignation followed an internal review of the sale of $22 million of nonconforming loan to a single investor.

On this news, LendingClub shares dropped 25.49% during premarket on May 9, 2016.

If you were negatively impacted by your investment in LendingClub securities between December 11, 2014 and May 6, 2016 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.

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