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

Cision 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

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