NEW
YORK, May 20, 2022 /PRNewswire/ -- Jakubowitz
Law announces that a securities fraud class action lawsuit has
commenced on behalf of shareholders of Upstart, Inc. (NASDAQ:
UPST).
To receive updates on the lawsuit, fill out the
form:
https://claimyourloss.com/securities/upstart-inc-loss-submission-form/?id=27473&from=4
The lawsuit seeks to recover losses for shareholders who
purchased Upstart between November 9,
2021 and May 9, 2022.
Shareholders interested in acting as a lead plaintiff
representing the class of wronged shareholders have until
July 12, 2022 to petition the
court. Your ability to share in any recovery doesn't require that
you serve as a lead plaintiff.
According to a filed complaint, Upstart, Inc. issued materially
false and/or misleading statements and/or failed to disclose that:
(1) Upstart's AI model could not adequately account for
macroeconomic factors such as interest rates that impact the
market-clearing price for loans; (2) as a result, Upstart was
experiencing a negative impact on its conversion rate; (3) as a
result, the Company was reasonably likely to use its balance sheet
to fund loans; and (4) as a result of the foregoing, defendants'
positive statements about the Company's business, operations, and
prospects were materially false and/or misleading and/or lacked a
reasonable basis.
Jakubowitz Law is vigorous in pursuit of justice for
shareholders who have been the victim of securities fraud. Attorney
advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
View original
content:https://www.prnewswire.com/news-releases/upst-shareholder-alert-jakubowitz-law-reminds-upstart-shareholders-of-a-lead-plaintiff-deadline-of-july-12-2022-301551508.html
SOURCE Jakubowitz Law