After Lending Club CEO Abruptly Resigns, Block & Leviton Launches Investigation Of Lending Club For Potential Violations Of Federal Securities Laws

BOSTON, May 12, 2016 /PRNewswire/ -- Block & Leviton LLP (www.blockesq.com), a securities litigation firm representing investors nationwide, is investigating whether Lending Club (NYSE: LC) and certain of its officers and directors have violated federal securities laws following the news today that the company's Chief Executive Officer, Renaud Laplanche, has abruptly resigned.

Lending Club shares were down over 40% this week after it was reported that a board review found that the company sold an investor $22 million in subprime, low credit score loans, despite the fact that these loans violated the express instructions of the investor. It was further reported that three other senior executives have been terminated and that Lending Club was forced to repurchase these subprime loans at par.

If you have purchased or otherwise acquired LC securities on or before May 9, 2016 and have questions about your legal rights or possess information relevant to this investigation, please contact attorney Jake Walker at (617) 398-5600 or by email at [email protected]. Confidentiality to whistleblowers or others with information relevant to the lawsuit is assured.

Block & Leviton LLP is a Boston-based law firm representing investors nationwide. The firm's lawyers have collectively been prosecuting securities cases on behalf of individual and institutional investors for over 70 years, and have recovered billions of dollars on their behalf. Block & Leviton's investigations into corporate wrongdoing were recently covered by the New York Times.

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CONTACT:
Block & Leviton LLP
Jacob Walker
155 Federal Street, Suite 400
Boston, MA 02110
(617) 398-5600
[email protected] 

SOURCE Block & Leviton LLP

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