LendingClub Prevails Over Investors' Suit Over FTC Probe
Law360 (July 27, 2020, 6:12 PM EDT) -- Fintech firm LendingClub succeeded in ending a proposed securities class action against it that alleged the company lied about a federal investigation, with a California federal judge ordering all claims dismissed Monday.
U.S. District Judge Beth Labson Freeman permanently dismissed some of the LendingClub investors' claims from their second amended complaint in June, saying they didn't have details to support claims that the company lied about a Federal Trade Commission investigation it's facing and violated securities laws.
Judge Freeman gave investors leave to amend in part, and on Monday, the investors told the court they didn't plan to file a third...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!