Market Overview

Robbins Arroyo LLP: LendingClub Corporation Misled Customers According to Recently Filed Case


Shareholder rights law firm Robbins
Arroyo LLP
announces that a shareholder has filed a stockholder
derivative complaint on behalf of LendingClub Corporation (NYSE:LC)
against certain current and former directors and officers for violations
of federal securities laws and breaches of fiduciary duty. LendingClub
operates an online marketplace platform that connects borrowers and
investors in the U.S.

View this information on the law firm's Shareholder Rights Blog:

LendingClub Accused of Making Misleading Customers

According to the complaint, since February 28, 2015, LendingClub has
made false and misleading statements concerning its business operations,
treatment of customers, and compliance with federal laws. LendingClub
publicly asserted and filed statements with the U.S. Securities and
Exchange Commission stating that its services contained "no hidden fees"
despite the fact that fees were deducted upfront. Further, LendingClub
regularly made unauthorized and improper electronic bank account
withdrawals from its customers without its customers' consent or notice.
This behavior has resulted in the filing of a Federal Trade Commission
complaint alleging consumer protection violations against LendingClub
and a federal securities class action against certain officers and
directors for violations of the Securities Exchange Act of 1934 for
issuing false and misleading statements.

LendingClub Shareholders Have Legal Options

If you would like more information about your rights and potential
remedies, contact attorney Leonid Kandinov at (800) 350-6003,,
or via the shareholder
information form
on the firm's website.

Robbins Arroyo LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional investors
in shareholder derivative and securities class action lawsuits, and has
helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested. Sign up for our FREE
portfolio monitoring service, Stock

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