A securities class action has been filed against Open Lending Corp. (LPRO) on behalf of persons and entities that purchased or otherwise acquired Open Lending securities between February 24, 2022 through March 31, 2025. This case has been filed in the USDC – WDTX.
On March 17, 2025, Open Lending disclosed in a filing with the U.S. Securities and Exchange Commission (“SEC”) that it would delay filing its annual report and postpone its Q4 and full-year 2024 earnings release, citing the need for additional time to finalize its financial statements.
On this news, Open Lending’s stock price fell $0.82 per share, or 19.03%, over the following two trading sessions, to close at $3.49 per share on March 18, 2025.
Then, on March 31, 2025, Open Lending filed its annual report with the SEC, disclosing a larger-than-expected Q4 2024 net loss, which the Company attributed in part to a valuation allowance on its deferred tax assets that significantly increased its tax expense.
On this news, Open Lending’s stock price fell $1.59 per share, or 57.61%, to close at $1.17 per share on April 1, 2025.