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.
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