Open Lending Corporation (NASDAQ: LPRO)

This lawsuit is for anyone who acquired securities in Open Lending Corporation (NASDAQ: LPRO) from February 24, 2022 to March 31, 2025.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by misrepresenting the capabilities of its risk-based pricing models thereby causing the Company to also misrepresent the value of the loans on which the Company collected profit share revenue.

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 the Company’s stock dropped precipitously on unusually heavy trading volume. Then, on March 31, 2025, after the market closed, Open Lending released its fourth quarter and full year 2024 financial results, revealing quarterly revenue of 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.” The Company also announced that it had appointed a new Chief Executive Officer and a new Chief Operating Officer, effective immediately, both of whom would be replacing Charles D. Jehl, who had been operating as the Company’s Chief Executive Officer, Chief Operating Officer and Chief Financial Officer simultaneously. On this news, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Open Lending Corporation (NASDAQ: LPRO) from February 24, 2022 to March 31, 2025 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.