Thieler Law Corp advises investors with losses exceeding $100,000 of the July 2, 2018 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 Corporation securities between February 28, 2015 and April 25, 2018, have until July 2, 2018 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 Corporation 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 falsely promised consumers they would receive a loan with "no hidden fees"; LendingClub's privacy policy did not comply with the Gramm-Leach-Bliley Act; consequently, the foregoing conduct would subject LendingClub's business practices to heightened regulatory scrutiny by the Federal Trade Commission; and as a result, defendants' public statements were materially false and misleading at all relevant times.

On April 25, 2018, the Federal Trade Commission revealed that it charged LendingClub with “falsely promising consumers they would receive a loan with ‘no hidden fees,’ when, in actuality, the company deducted hundreds or even thousands of dollars in hidden up-front fees from the loans.” The FTC’s complaint alleges that LendingClub violated the FTC Act and the Gramm-Leach-Bliley Act.

Following this news, NYSE: LC fell $0.49 per share or over 15% to close at $2.77 per share on April 25, 2018.

If you were negatively impacted by your investment in LendingClub Corporation securities between February 28, 2015 and April 25, 2018 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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