loanDepot, a leading mortgage industry lender, has just agreed to settle a securities class action lawsuit filed by shareholders. The shareholders claimed the company, its executives, and investment banks had made false or misleading disclosures before and after the lender’s initial public offering in 2021.
The settlement will require the company to pay out $75 million to shareholders as compensation. It will also end litigation and potential higher costs in the form of legal fees. Yet, the resolution does not require loanDepot to admit any fault in the case.
Important Elements:
• loanDepot agreed to settle a lawsuit with shareholders
• Company, executives, and investment banks alleged to have made false or misleading disclosures
• Initial Public Offering in 2021
• LoanDepot to pay out $75 million as compensation
• Resolution does not require loanDepot to admit any fault in the case
You can read this full article at: https://www.housingwire.com/articles/loandepot-agrees-to-settle-securities-class-action-lawsuit-for-3-5m/(subscription required)
Note Servicing Center provides professional, fully compliant loan servicing for private mortgage investors so they can avoid the aggravation of servicing their own loans and just relax and get paid. Contact us today for more information.
Share This Story, Choose Your Platform!
Related Posts
Disclaimer
The information provided in this article is for general educational and informational purposes only and does not constitute legal, financial, investment, tax, or professional advice. Note Servicing Center, Inc. is a licensed loan servicer and does not provide legal counsel, investment recommendations, or financial planning services. Reading this content does not create an attorney-client, fiduciary, or advisory relationship of any kind.
Nothing in this article constitutes an offer to sell, a solicitation of an offer to buy, or a recommendation regarding any security, promissory note, mortgage note, fractional interest, or other investment product. Any references to notes, yields, returns, or investment structures are illustrative and educational only. Past performance is not indicative of future results, and all investments involve risk, including the potential loss of principal.
Note investing, real estate transactions, and lending activities are subject to federal, state, and local laws that vary by jurisdiction and change over time. Before making any decision based on the information in this article, you should consult with a qualified attorney, licensed financial advisor, certified public accountant, or other appropriate professional who can evaluate your specific circumstances.
While we make reasonable efforts to ensure the accuracy of the information presented, Note Servicing Center, Inc. makes no warranties or representations regarding the completeness, accuracy, or current applicability of any content. We disclaim all liability for actions taken or not taken in reliance on this article.