Barrack, Rodos & Bacine Notifies Shareholders Of Open Lending Corp. (LPRO) Of A Securities Class Action Lawsuit

(MENAFN- GlobeNewsWire - Nasdaq) PHILADELPHIA, May 09, 2025 (GLOBE NEWSWIRE) -- The law firm of Barrack, Rodos & Bacine announces that a class action lawsuit has been filed on behalf of investors who purchased stock in Open Lending Corp. (NASDAQ: LPRO) between February 24, 2022 and March 31, 2025. Open Lending is a provider of services to automotive lenders.

WHAT'S THIS ABOUT?
On March 17, 2025, Open Lending announced that it would postpone its earnings release and conference call, both scheduled for the same day. The company also filed a form with the SEC requesting additional time to complete its financial statements for its annual 10-K report.

On this news, Open Lending's share price fell $0.40, or 9.3%, to close at $3.91 per share on March 17th. Exactly two weeks later, on March 31st, the company reported a net loss of $144 million due to several factors, including: 1) a“deterioration” of the Company's“2021 and 2022 vintages,” resulting in loans that were“worth significantly less” than their balances; 2)”continued elevated delinquencies and ultimate defaults;” and 3) an“increased income tax expense” for the preceding fiscal year. Open Lending also announced that Charles Jehl–who simultaneously held the roles of CEO, CFO, and COO–would be replaced.

On this news, Open Lending's stock fell almost 58%, closing at $1.17 per share.

WHAT CAN I DO
If you purchased Open Lending stock during the Class Period and sustained a loss on your investment, you are encouraged to contact us about your rights in this matter and the possibility of leading this class action lawsuit. You may contact the firm by calling Linda Border or Mark Stein at 877-386-3304, or via email at ... , or visiting the firm's web site (barrack.com ).

Investors have until June 30, 2025, to submit a motion to be appointed as lead plaintiff. Your ability to participate in any recovery does not require that you serve as lead plaintiff or attempt to do so.

WHO WE ARE
Barrack, Rodos & Bacine has more than four decades of experience prosecuting securities law class actions, including cases involving accounting fraud and insider trading, and has achieved some of the largest recoveries in U.S. history of securities litigation. The firm's largest recoveries on behalf of investors include $6.19 billion for WorldCom investors, $3.32 billion for Cendant investors, $1.05 billion for McKesson investors, and $970.5 million for AIG investors.

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