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LDI Investor Alert: Shareholder Class Action Lawsuit Filed

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Boston, Massachusetts--(Newsfile Corp. - September 27, 2021) - The Thornton Law Firm alerts investors that a class action lawsuit has been filed on behalf of investors of loanDepot, Inc. (NYSE: LDI). The case is currently in the lead plaintiff stage and is brought on behalf of investors who purchased LDI shares pursuant or traceable to loanDepot's Registration Statement and Prospectus issued in connection with loanDepot's February 2021 initial public offering. Investors who purchased LDI stock or other securities may contact the Thornton Law Firm's investor protection team by visiting www.tenlaw.com/cases/loanDepot for more information. Investors may also email investors@tenlaw.com or call 617-531-3917.

FOR MORE INFORMATION: www.tenlaw.com/cases/loanDepot

The case alleges that loanDepot and its senior executives made misleading statements to investors and failed to disclose that: (i) loanDepot's refinance originations had already declined substantially at the time of the IPO due to industry over-capacity and increased competition; (ii) loanDepot's gain-on-sale margins had already declined substantially at the time of the IPO; and (iii) as a result, loanDepot's revenue and growth would be negatively impacted.

Interested loanDepot investors have until November 8, 2021 to retain counsel and apply to be a lead plaintiff if they are interested to do so. A lead plaintiff acts on behalf of all other investor class members in managing the class action. Investors do not need to be a lead plaintiff in order to be a class member. If investors choose to take no action, they can remain an absent class member. The class has not yet been certified. Until certification occurs, investors are not represented by an attorney. Thornton Law Firm is not currently representing a plaintiff who filed a complaint but is investigating the case on behalf of investors interested in being a lead plaintiff.

FOR MORE INFORMATION: www.tenlaw.com/cases/loanDepot

Thornton Law Firm's securities attorneys are highly experienced in representing investors in recovering damages caused by violations of the securities laws. Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of investors. This may be considered Attorney Advertising in some jurisdictions. Prior results do not guarantee or predict a similar outcome with respect to any future matter.

CONTACT:
Thornton Law Firm LLP
1 Lincoln Street
State Street Financial Center
Boston, MA 02111
www.tenlaw.com/cases/loanDepot

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/97785