The Law Offices of Howard G. Smith Reminds Investors of July 2nd Deadline in the Class Action Lawsuit Against LendingClub Corporation (LC)

Law Offices of Howard G. Smith reminds investors of the July 2, 2018 deadline to file a lead plaintiff motion in the class action filed on behalf of investors that purchased LendingClub Corporation ("LendingClub" or the "Company") LC securities between February 28, 2015 through April 25, 2018, inclusive (the "Class Period"). LendingClub investors have until July 2, 2018 to file a lead plaintiff motion.

Investors suffering losses on their LendingClub investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.

On April 25, 2018, the Federal Trade Commission ("FTC") issued a press release announcing allegations that LendingClub violated the FTC Act and the Gramm-Leach-Bliley Act by misleadingly promising consumers they would receive a loan without hidden fees and failing to provide customers with a clear and conspicuous privacy notice. On this news, share of LendingClub fell significantly, thereby injuring investors.

The complaint filed in this class action alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) LendingClub falsely promised consumers they would receive a loan with "no hidden fees"; (2) LendingClub's privacy policy did not comply with the Gramm-Leach-Bliley Act; (3) consequently, the foregoing conduct would subject LendingClub's business practices to heightened regulatory scrutiny by the Federal Trade Commission; and (4) as a result, defendants' public statements were materially false and misleading at all relevant times.

If you purchased shares of LendingClub during the Class Period you may move the Court no later than July 2, 2018 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: https://www.businesswire.com/news/home/20180625006141/en/