NEW ORLEANS, May 24, 2022 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder information service, reminds investors that they have until July 12, 2022 to file lead plaintiff applications in securities class action lawsuits against Upstart Holdings, Inc. (NasdaqGS: UPST), if they purchased the Company’s securities between March 18, 2021 and May 9, 2022, inclusive (the “Class Period”). These actions are pending in the United States District Court for the Northern District of California.
Upstart investors should visit us at https://claimsfiler.com/cases/nasdaq-upst/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuits
Upstart and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On May 9, 2022, post-market, the Company revealed its 1Q2022 financial results, disclosing a reduction to its fiscal 2022 guidance, expecting revenue of approximately $1.25 billion and contribution margin of 48% due to “rising interest rates and rising consumer delinquencies [as] putting downward pressure on conversion.”
On this news, shares of Upstart fell $43.52, or 56%, to close at $33.61 per share on May 10, 2022.
The first-filed case is Ward v. Upstart Holdings, Inc., No. 22-cv-02856.
ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.
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