LOS ANGELES–(BUSINESS WIRE)–Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, today announced that it has initiated an investigation on behalf of Opendoor Technologies Inc. (“Opendoor” or the “Company”) (NASDAQ: OPEN) investors regarding the Company’s possible violations of federal securities laws.
If you have suffered a loss on your Opendoor investments or would like to inquire about possible claims to recover your loss under federal securities laws, you may submit your contact information at https://www.glancylaw.com /cases/opendoor-technologies-inc/. You may also contact Charles H. Linehan of GPM at 310-201-9150, toll-free at 888-773-9224, or by email at [email protected] to learn more about your rights.
On September 19, 2022, Bloomberg reported that Opendoor appeared to have lost money on 42% of its transactions in August 2022, further indicating that the data was even worse in key markets, where Opendoor lost money on up to 76% Sales. The results highlighted the failure of Opendoor’s algorithm to accurately adapt to changing market conditions.
On this news, Opendoor’s stock fell $0.50, or 12.3%, over the next two consecutive trading days, to close at $3.56 per share on September 20, 2022, hurting Investors.
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Notice of denunciation: People with nonpublic information about Opendoor should consider their options to help the investigation or take advantage of the SEC’s whistleblower program. Under this program, whistleblowers who provide original information can receive rewards of up to 30% of any successful recovery made by the SEC. For more information, call Charles H. Linehan at 310-201-9150 or 888-773-9224 or email [email protected]
Glancy Prongay & Murray LLP is a leading law firm representing investors and consumers in securities litigation and other complex class actions. ISS Securities Class Action Services has consistently ranked GPM in its annual SCAS Top 50 report. In 2018, GPM was ranked among the top five law firms for the number of securities class action settlements and among the top six law firms for the full amount of the settlements. With four offices across the country, GPM’s nearly 40 attorneys have won groundbreaking decisions and recovered billions of dollars for investors and consumers in securities, antitrust, consumer and employment class action lawsuits. GPM attorneys have handled cases covering a wide range of corporate misconduct, including cases involving financial restatements, internal control weaknesses, earnings management, fraudulent earnings advice and forward-looking statements, auditor misconduct, insider trading, violations of FDA regulations, actions resulting in FDA and DOJ investigations, and many other forms of corporate misconduct. GPM’s lawyers have worked on securities matters involving nearly every industry and sector of the capital markets, including energy, consumer discretionary, consumer staples, real estate and REITs, finance, insurance, information technology, healthcare, biotechnology, cryptocurrency, medical devices. , and much more. GPM’s past successes have been widely covered by major industry news and publications such as The Wall Street Journal, The Financial Times, Bloomberg Businessweek, Reutersthe Associated Press, Barrons, Investor Business Daily, Forbesand Silver.
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