CS Disco(LAW) GlobeNewswire News Room·2025-05-03 13:00Core Viewpoint - A class action lawsuit has been filed against Open Lending Corporation for allegedly making materially false and misleading statements regarding its business operations and financial performance during the class period from February 24, 2022, to March 31, 2025 [1][5]. Group 1: Lawsuit Details - The lawsuit claims that Open Lending's defendants misrepresented the capabilities of its risk-based pricing models and issued misleading statements about profit share revenue [5]. - It is alleged that Open Lending's 2021 and 2022 vintage loans were worth significantly less than their outstanding loan balances, and that the underperformance of the 2023 and 2024 vintage loans was misrepresented [5]. - The lawsuit asserts that these misleading statements led to investor damages when the true details about Open Lending's business were revealed [5]. Group 2: Participation Information - Investors who purchased Open Lending securities during the class period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - To join the class action, interested parties can visit the provided link or contact the law firm for more information [3]. - A lead plaintiff must move the Court by June 30, 2025, to represent other class members in the litigation [1][3]. Group 3: Law Firm Credentials - The Rosen Law Firm has a strong track record in securities class actions, having achieved significant settlements for investors, including over $438 million in 2019 alone [4]. - The firm has been recognized for its success in securities class action settlements, ranking No. 1 in 2017 and consistently in the top 4 since 2013 [4]. - The firm emphasizes the importance of selecting qualified counsel with a proven history in leadership roles within class action lawsuits [4].