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Kirby McInerney LLP Announces Investigation of Possible Claims Against Open Lending Corporation (LPRO) on Behalf of Investors

1. LPRO is under investigation for potential securities law violations. 2. Company missed filing deadlines for its 2024 Annual Report. 3. Recent financials showed a significant negative revenue of $56.9 million. 4. Stock price declined approximately 57% following the negative earnings report. 5. Investors may be entitled to compensation due to losses.

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FAQ

Why Very Bearish?

LPRO's stocks fell significantly after disclosing massive quarterly losses and missed deadlines, revealing deeper financial issues, similar to other firms historically facing investigations which often led to prolonged declines in shareholder value.

How important is it?

The ongoing investigation and substantial financial losses are critical for LPRO, likely affecting investor confidence and market perception.

Why Short Term?

The immediate losses and ongoing investigations suggest short-term negative sentiment, possibly affecting LPRO’s stock in the next few months until a resolution is found.

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LPRO
NEW YORK, April 02, 2025 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP is investigating potential claims against Open Lending Corporation (“Open Lending” or the “Company”) (NASDAQ:LPRO). The investigation concerns whether Open Lending and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices. [LEARN MORE ABOUT THE INVESTIGATION] On March 17, 2025, Open Lending disclosed that it would be unable to timely file its Annual Report for 2024 as it “requires additional time to finalize its accounting and review processes specifically related to its profit share revenue and related contract assets.” On this news, the price of Open Lending shares declined by $0.40 per share, from $4.31 per share on March 14, 2025, to close at $3.91 on March 17, 2025. Then, on March 31, 2025, Open Lending released its fourth quarter and full year 2024 financial results, revealing that quarterly revenue was negative $56.9 million due in part to “a $81.3 million reduction in estimated profit share revenues related to business in historic vintages” … “primarily due to heightened delinquencies and corresponding defaults associated with loans originated in 2021 through 2024.” Additionally, the Company disclosed a net loss of $144 million, which was “negatively impacted by the recording of a valuation allowance on [its] deferred tax assets of $86.1 million, which increased [its] income tax expense during the period.” On this news, the price of Open Lending shares declined by $1.59 per share, or approximately 57%, from $2.76 per share on March 31, 2025, to close at $1.17 on April 1, 2025. If you purchased or otherwise acquired Open Lending securities, have information, or would like to learn more about this investigation, contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or by filling out the form below to discuss your rights or interests with respect to these matters without any cost to you. [CONTACT US] Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. ContactsKirby McInerney LLPThomas W. Elrod, Esq.212-699-1180https://www.kmllp.cominvestigations@kmllp.com

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