NEW YORK, May 24, 2022 /PRNewswire/ — Klein Law Firm Announces Class Action Lawsuit Has Been Filed on Behalf of Upstart, Inc. (NASDAQ: UPST) Shareholders Alleging the Company Violated Federal Securities Laws .
Class period: March 18, 2021 at May 9, 2022
Lead Applicant Deadline: July 12, 2022
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Upstart, Inc. NEWS – UPST NEWS
CLASS ACTION CASE DETAILS: The filed complaint alleges that Upstart, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) Upstart’s AI model could not adequately account for factors macroeconomics such as interest rates which impact the market clearing price for loans; (2) as a result, Upstart suffered a negative impact on its conversion rate; (3) as a result, the Company was reasonably likely to use its balance sheet to finance borrowings; and (4) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations and prospects were materially false and/or misleading and/or lacked a reasonable basis.
WHAT THIS MEANS FOR YOU AS A SHAREHOLDER: If you suffered a loss in Upstart, you have until July 12, 2022 ask the court to obtain the status of principal plaintiff. Your ability to participate in any collection does not require you to serve as the lead plaintiff.
AT NO CHARGE TO YOU: If you purchased Upstart titles during the relevant period, you may be entitled to compensation without payment of out-of-pocket expenses.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For more information on the UPST trial, please contact J. Klein, Esq. by phone at 212-616-4899 or click on this link: https://www.kleinstocklaw.com/pslra-1/upstart-inc-loss-submission-form?id=27574&from=4.
ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigation involving financial fraud across the country. Klein Law Firm is a litigation firm with experience in a wide range of areas, including securities law, corporate finance and commercial litigation. Since 2011, our experienced lawyers have achieved superior results for our clients with a personalized approach. Lawyer advertisement. Prior results do not guarantee similar results.
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
New York, NY 10118
Telephone: (212) 616-4899
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SOURCE Klein Law Firm