My two cents: Looking past the financial results, LC created a new market place bringing together investors and borrowers and seriously undercutting traditional banks. TREE is nice but not really anything new.
Up from here half the height of the cup. This is not, however a textbook cup and handle as the pattern is a continuation pattern, not a bottom pattern.
I don't blame lawyers. They're going after money. I blame the system that makes such frivolous lawsuits profitable to lawyers.
The lawsuits are based on misleading shareholders about internal controls that should have prevented the improper characterization of loans sold to an investor. Given the 99.9% of loans that were properly characterized, the case is extremely weak.
Lawyers like class action lawsuits. They make money on them. But no one else does.
I think the BOD wants to get all the bad news out at one time. Tougher lending standards are bad news to the market I guess. Higher rates are bad for the market I guess. Upside down gotta have it now stock market determined by children with no long term outlook. $5 is a pretty rational price right now so I'm adding to my position.
You have provided a valuable service to LC investors! I recommend you short something other than a stunning growth story in the future and you won't lose so much net worth! Maybe try a failing company? Just an idea...
Obviously insiders are trading on some news today (5/31/2016). Why are they dumping shares? Anyone?