NEW ORLEANS–(BUSINESS WIRE)–Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Louisiana Attorney General Charles C. Foti, Jr., remind investors that they only have up to July 12, 2022 to file applications for lead plaintiffs 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 “Security Period”). Class”), including Convertible Senior Bonds due 2026 privately issued by the Company offering to qualified institutional buyers on or about August 18, 2021. These actions are pending in the United States District Courts for the Southern District of New York and the Southern District of Ohio.
What you can do
If you purchased Upstart securities as set forth above and would like to discuss your legal rights and how these cases may affect you and your right to recover your economic loss, you may, at no cost or obligation, contact KSF Managing Partner Lewis Kahn. -toll free at 1-877-515-1850 or by email ([email protected]), or visit https://www.ksfcounsel.com/cases/nasdaqgs-upst/ Learn more. If you wish to serve as lead plaintiff in these class actions supervising lead counsel with the goal of obtaining a fair and just resolution, you must apply for this position by filing an application to the Court by July 12, 2022.
About the Lawsuits
Upstart and some of its executives are accused of failing to disclose material information during the Class Period in violation of federal securities laws. On May 9, 2022, mail-market, the Company disclosed its 1Q2022 financial results, disclosing a reduction of its fiscal 2022 guidance, expecting revenue of approximately $1.25 billion and a contribution margin of 48% due to “increasing interest rates and the consumer delinquencies on the rise. [as] exerting 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.
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The first case presented is Ward v. Upstart Holdings, Inc., No. 22-cv-02856.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s leading securities litigation law firms. KSF serves a variety of clients, including public institutional investors, hedge funds, money managers, and retail investors, seeking to recover investment losses due to corporate fraud and misconduct by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
For more information about KSF, you can visit www.ksfcounsel.com.
Kahn Swick and Foti, LLC
Lewis Kahn, Managing Partner