Class Action News

LC Class Action Lawsuit Commences

Levi & Korsinsky, LLP

May 10, 2018

To: All persons or entities who purchased or otherwise acquired securities of LendingClub Corporation (“LendingClub”) (NYSE: LC) between February 28, 2015 and April 25, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Northern District of California. To get more information on the LendingClub class action lawsuit, (LC class action lawsuit) go to: or contact Joseph E. Levi, Esq. either via email at or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.


The LendingClub lawsuit (LC lawsuit) complaint alleges that throughout the class period Defendants issued materially 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 (“FTC”); and (4) as a result, Defendants’ public statements were materially false and misleading at all relevant times.


On April 25, 2018, the FTC issued a press release announcing allegations that LendingClub violated the FTC Act and the Gramm-Leach-Bliley Act by falsely promising consumers they would receive a loan without hidden fees and failing to provide customers with a clear and conspicuous privacy notice.


If you suffered a loss in LendingClub you have until July 2, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.


Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.