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Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

LDI Shareholder Alert: Bronstein, Gewirtz & Grossman, LLC Notifies loanDepot, Inc. Investors of Class Action and Encourages Shareholders to Contact the Firm

September 14, 2021 GMT

NEW YORK--(BUSINESS WIRE)--Sep 14, 2021--

Attorney Advertising-- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against loanDepot, Inc. (“loanDepot” or the “Company”) (NYSE: LDI) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired loanDepot securities pursuant and/or traceable to loanDepot’s February 16, 2021, initial public offering (the “IPO” or the “Offering”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/ldi.

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1933.

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The Complaint alleges that the Registration Statement was negligently prepared and omitted to disclose material adverse facts. Specifically, Defendants failed to disclose to investors that: (1) the Company’s refinance originations had already declined substantially at the time of the IPO due to industry over-capacity and increased competition; (2) the Company’s gain-on-sale margins had already declined substantially at the time of the IPO; (3) as a result, the Company’s revenue and growth would be negatively impacted; and (4) consequently, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/ldior you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in loanDepot you have until November 8, 2021 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.

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View source version on businesswire.com:https://www.businesswire.com/news/home/20210914005149/en/

CONTACT: Bronstein, Gewirtz & Grossman, LLC

Peretz Bronstein or Yael Nathanson

212-697-6484 |info@bgandg.com

KEYWORD: NEW YORK NEW JERSEY UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES

SOURCE: Bronstein, Gewirtz & Grossman, LLC

Copyright Business Wire 2021.

PUB: 09/14/2021 11:00 AM/DISC: 09/14/2021 11:02 AM

http://www.businesswire.com/news/home/20210914005149/en