On or around 09/28/2016 (Notice of voluntarily dismissal)
Filing Date: August 04, 2015
According to the law firm press release, On Deck provides financing products to small businesses in the United States. It offers fixed term loans and revolving lines of credit. The Company processes and services its loans through its online platform.
The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (1) the true rate of default for the Company’s loan portfolio was steadily increasing; (2) the true value of the Company’s loan portfolio was in material decline; and (3) as a result of the foregoing, On Deck’s public statements were materially false and misleading at all relevant times.
Plaintiffs filed an amended complaint on March 18, 2016.
This case was voluntarily dismissed on September 28, 2016.
Company & Securities Information
Defendant: On Deck Capital, Inc.
Industry: Misc. Financial Services
Headquarters: United States
Ticker Symbol: ONDK
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Carl Stitt, et al. v. On Deck Capital, Inc., et al.