Upstart Class Action Complaint Filed: Johnson Fistel, a Globally Recognized Law Firm, Encourages Shareholders to Submit Their Losses UPST

San Diego, Calif.–(Newsfile Corp. – May 15, 2022) – Shareholder rights law firm Johnson Fistel, LLP announces that a class action lawsuit has been filed on behalf of investors in Upstart Holdings, Inc. (“Upstart” or the “Company”) UPST. The class action is on behalf of shareholders who purchased between November 9, 2021 and May 9, 2022. Investors are hereby notified that they have until July 12, 2022 to ask the court to serve as lead plaintiff in this stock.

What actions can I take at this time? If you have suffered a loss and would like to learn more about the lead plaintiff role, please contact Jim Baker ([email protected]) by email or by phone at 619-814-4471. If emailing, please include a phone number.

To join this action, you can click or copy and paste the link below into a browser:
https://www.johnsonfistel.com/investigations/upstart-holdings-inc-news-class-action

There is no cost or obligation for you.

The Complaint filed in this Class Action alleges that throughout the Class Period, the Defendants made materially false and/or misleading statements, and failed to disclose material adverse facts regarding the business, operations and societal prospects. Specifically, the defendants failed to disclose to investors: (1) that Upstart’s AI model could not adequately account for macroeconomic factors such as interest rates that affect the price of market equilibrium for loans; (2) that, as a result, Upstart suffered a negative impact on its conversion rate; (3) that, therefore, the Company was reasonably likely to use its balance sheet to finance borrowings; and (4) that 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 reasonable basis.

A lead plaintiff will act on behalf of all other class members to lead the Upstart class action. The lead plaintiff may select a law firm of their choice to litigate the class action. An investor’s ability to share in any potential future recovery from the Upstart class action does not depend on their function as lead plaintiff. For more information on the lead plaintiff process, please see https://www.johnsonfistel.com/lead-plaintiff-deadlines.

About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivatives and securities class actions. Johnson Fistel is seeking to recover losses incurred due to violations of federal securities laws. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Lawyer advertisement. Past results do not guarantee future results.

Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
Investor Relations
[email protected]

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/124089