LendingClub Shareholder Alert: Bernstein Liebhard LLP Announces Investigation On Behalf Of Investors Of LendingClub Corporation - LC

NEW YORK, April 26, 2018 /PRNewswire/ -- Bernstein Liebhard LLP is investigating potential securities fraud claims on behalf of shareholders of LendingClub Corporation ("LendingClub" or the "Company") (NYSE: LC). If you purchased LendingClub securities, and/or have information relating to this matter, please visit our LENDINGCLUB SHAREHOLDER PAGE or contact Daniel Sadeh toll free at (877) 779-1414 or dsadeh@bernlieb.com.

On April 25, 2018, the U.S. Federal Trade Commission ("FTC") "charged the LendingClub Corporation 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 against LendingClub states that the Company is "persisting in this conduct despite warnings from its own compliance department that [it's] concealment of the up-front fee is 'likely to mislead the consumer.'" Additionally, the FTC's complaint states that LendingClub's "internal compliance reviews repeatedly cite the concealment of the fee as a significant problem for consumers."

On this news, LendingClub's stock fell $0.49 per share, or over 15%, from its previous closing price to close at $2.77 on April 25, 2018.

Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal's "Plaintiffs' Hot List" thirteen times and listed in The Legal 500 for ten consecutive years.

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Contact Information
Daniel Sadeh
Bernstein Liebhard LLP
http://www.bernlieb.com 
(877) 779-1414
dsadeh@bernlieb.com

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SOURCE Bernstein Liebhard LLP