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:
To receive updates on the lawsuit, fill out the
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
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.
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SOURCE Jakubowitz Law