Public

loanDepot agreed to pay $3.5M to investors to resolve the claims over misleading about the IPO.

loanDepot sold 3.85M shares at $14 each in its IPO, raking in about $54M. Notably, nearly 40% of these shares were sold by CEO Anthony Hsieh and investor Parthenon Capital.

Supposedly, loanDepot's Registration Statement hid a big drop in refinance and profit margins.

When loanDepot's Q2 2021 results was published on August 3, 2021, $LDI dropped over 42% by August 17, 2021, exposing undisclosed risks.

loanDepot has now decided to resolve all the allegations and pay a $3.5M settlement.

Loandepot Inc

All persons or entities who purchased or acquired shares of loanDepot’s Class A common stock between March 16, 2021 and September 22, 2021, inclusive, and were damaged thereby.

Do I have to sell securities to be eligible?

No, if you have purchased securities within the class period, you are eligible to participate.

You can participate in the settlement and retain (or sell) your securities.

The final payout amount depends on your specific trades and the number of investors participating in the settlement.

If 100% of investors file their claims - the average payout will be $0.37 per share. Although typically only 25% of investors file claims, in this case, the average recovery will be $1.48 per share.

The entire process usually takes 4 to 9 months after the claim deadline. But the exact timing depends on the court and settlement administration.

11thestate is an investor recovery company, we help investors to track and collect securities class action settlements. We will:

Audit the claim and make sure you get the maximum possible payout

File a claim with the settlement administration

Correspond with the settlement administration to resolve emerging issues

Deliver payout directly to your brokerage account

There is no upfront cost, but we will deduct 20% of the recovered amount as a commission for our services.

Disbursement

Mismanagement

Misleading Statements

Omissions

Directors

Management

loanDepot (LDI) IPO Finance Issues $3.5M Settlement

loandepot-investors-settlement

Stocks

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loanDepot, Inc. engages in originating, financing, selling, and servicing residential mortgage loans in the United States. The company offers conventional agency-conforming and prime jumbo, federal assistance residential mortgage, and home equity loans. It also provides settlement services, which include captive title and escrow business; real estate services that cover captive real estate referral business; and insurance services, including services to homeowners, as well as other consumer insurance policies. The company was founded in 2010 and is headquartered in Irvine, California.

loanDepot (LDI) IPO Finance Issues $3.5M Settlement

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