(Upstart Alert) Long Term Holders of Upstart Contact Johnson Fistel for Information Regarding Investigation
Johnson Fistel, LLP is investigating potential claims on behalf of Upstart, Inc. (“Upstart” or the “Company”) (NASDAQ: UPST) against certain of its officers and directors.
If you are a current, long-term shareholder of Upstart holding shares before March 18, 2021, you may have standing to hold Upstart harmless from the alleged harm caused by the Company’s officers and directors by making them personally responsible. You may also be able to assist in reforming the Company’s corporate governance to prevent future wrongdoing.
The filed complaint alleges that defendants made false statements and/or concealed 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.
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Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. Johnson Fistel seeks to recover losses incurred due to violations of federal securities laws. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Investor Relations
Jim Baker, 619-814-4471
jimb@johnsonfistel.com