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NEW YORK, Aug. 3, 2021 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of loanDepot, Inc. ("loanDepot" or the "Company") (NYSE: LDI). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 7980.
The investigation concerns whether loanDepot and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On or around February 11, 2021, loanDepot conducted its initial public offering ("IPO"), selling 3.85 million shares of stock priced at $14.00 per share. Then, on August 3, 2021, loanDepot issued a press release announcing its financial results for the second quarter of 2021. Among other results, loanDepot reported non-GAAP and GAAP earnings per share and revenue that all fell short of consensus estimates. The Company stated that its results "reflect[ed] lower loan origination volumes and profit margins" and that its "revenues were lower on decreased gain on sale margins."
On this news, loanDepot's stock price fell $1.07 per share, or 10.10%, to close at $9.52 per share on August 3, 2021.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980
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SOURCE Pomerantz LLP