NEW YORK, May  12, 2025  (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP, a distinguished law firm with over 125 years of history, informs investors that a class action lawsuit has been filed Open Lending Corporation (Open Lending or the Company) (NASDAQ: LPRO) on behalf of a class consisting of all investors that purchased or otherwise acquired Open Lending securities between February 24, 2022 and March 31, 2025, both dates inclusive (the "Class Period").

Deadline to sign up:

If you are an investor who bought or otherwise acquired Open Lending securities during the Class Period, you have until June 30, 2025, to ask the Court to appoint you as Lead Plaintiff for the class.

PLEASE CLICK HERE TO JOIN THE CASE AND SUBMIT CONTACT INFORMATION

CASE SUMMARY

Allegations:

The filed lawsuit alleges Open Lending, and its executives, violated federal securities laws by:

Misrepresenting the capabilities of its risk-based pricing models.Issuing misleading statements about its profit share revenue.Failing to disclose devaluation of its 2021 and 2022 vintage loans.Misrepresenting the underperformance of its 2023 and 2024 vintage loans.

These alleged actions caused the company's positive statements to be misleading or baseless.

Timeline of Events:

March 17, 2025: Open Lending postponed its earnings release and conference call, filed a Form 12b-25 for more time to finalize its annual 10-K. Stock price dropped 9.3% ($0.40), closing at $3.91.March 31, 2025: The company reported a substantial increase in net loss for Q4 2024, primarily due to a valuation allowance on deferred leadership changes were also disclosed. Stock price fell another 57.61% ($1.59), closing at $1.17 on April 1, 2025.

Why Wolf Haldenstein Adler Freeman & Herz LLP?:

This illustrious firm, founded in 1888, is steadfast in their pursuit of justice for investors who have suffered financial harm due to these misrepresented statements. The law firm brings to the fore over 125 years of legal expertise in securities litigation and has a proven track record of protecting the rights of investors.

We encourage all investors who have been affected or have information that will assist in our investigation, to contact Wolf Haldenstein Adler Freeman & Herz LLP.

Contact:

Phone: (800) 575-0735 or (212) 545-4774Email: [email protected] Person: Gregory Stone, Director of Case and Financial Analysis

Firm Website: Wolf Haldenstein Adler Freeman & Herz LLP