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loanDepot, Inc. (NYSE: LDI) Long Term Investor Notice: Lawsuit against Directors filed

09-16-2022 02:25 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed by a current long term investorsin loanDepot, Inc. (NYSE: LDI) shares.

A lawsuit was filed by a current long term investorsin loanDepot, Inc. (NYSE: LDI) shares.

A long-term investor in shares of loanDepot, Inc. (NYSE: LDI) filed a lawsuit against certain directors of loanDepot, Inc. over alleged breaches of fiduciary duties.

Investors who are current long term investors in loanDepot, Inc. (NYSE: LDI) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The lawsuit was filed against loanDepot's CEO, CFO and five other directors of loanDepot, Inc. for breaches of fiduciary duties, unjust enrichment, abuse of control, gross mismanagement and other claims.

The lawsuit against the directors over alleged breaches of fiduciary duties follows a lawsuit that was filed against loanDepot, Inc. over alleged securities laws violations. According to that complaint filed in the U.S. District Court for the Central District of California the plaintiff alleges that the Registration Statement that was filed in connection with loanDepot's initial public offering ("IPO") failed to disclose that loanDepot's loan originations had already declined substantially at the time of the IPO due to industry over-capacity and increased competition, that loanDepo's gain-on-sale margins had already declined substantially at the time of the IPO, that, as a result, the Company's revenue and growth would be negatively impacted, that that loanDepot had already been forced to embark on a significant expense reduction plan due to the significantly lower growth and refinance originations that the Company was experiencing, and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Those who purchased shares of loanDepot, Inc. (NYSE: LDI) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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