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In re LENDINGCLUB SECURITIES LITIGATION

  1. September 25, 2018

    Alsup Grants $16M LendingClub Fee Bid Despite Misgivings

    U.S. District Judge William Alsup filed a pair of orders in California federal court on Monday granting final approval of a $125 million deal to resolve securities class actions against LendingClub Corp. and, despite concerns about "hard-to-justify" entries, approving nearly $16.4 million in fees for Robbins Geller Rudman & Dowd LLP and other class counsel.

  2. August 06, 2018

    Alsup Fears 'Mistake' In OK'ing $125M LendingClub Deal

    U.S. District Judge William Alsup expressed regret Monday for approving a $125 million deal ending securities class actions against LendingClub Corp., saying "he may have made a mistake" since he learned the parties "have gotten away" with releasing claims beyond the litigation's allegations.

  3. July 19, 2018

    $16M Fee Bid In LendingClub Deal 'Unbelievable,' Judge Says

    U.S. District Judge William Alsup on Thursday approved a $125 million deal ending securities class actions against LendingClub Corp., but said he couldn't bless class counsel's "unbelievable" bid for $16 million in attorneys' fees because the request was so vague he "may have to bring in one of those people with the green eyeshade."

  4. June 19, 2018

    Alsup Wants Breakdown Of $16M Fee Bid In LendingClub Suit

    U.S. District Judge William Alsup, who said he was "shocked" by a $16 million request for attorneys' fees, has told lawyers who represented LendingClub Corp. investors in securities class actions against the peer-to-peer lending company that their latest California federal court filing still provided too little detail for him to evaluate the request.

  5. June 12, 2018

    Attys Defend $16M LendingClub Fee Bid That 'Shocked' Judge

    Attorneys seeking $16 million for representing LendingClub Corp. investors in securities class actions against the peer-to-peer lending company defended their fee bid Monday to a California federal judge who previously said the amount "shocked" him, saying their work produced an "outstanding result under any measure."

  6. March 08, 2018

    Judge 'Shocked' By $16M Atty Fee Bid In LendingClub Deal

    A California federal judge said he was "shocked" attorneys want $16 million for representing LendingClub Corp. investors in two securities class actions against the peer-to-peer lending company, telling the plaintiffs' lawyers at a hearing Thursday they "may be being greedy" by asking for that much of the $125 million settlement.

  7. February 21, 2018

    LendingClub Unveils $125M Settlement Of Investor Suits

    LendingClub Corp. on Tuesday said it has reached a $125 million preliminary settlement with the plaintiffs behind two securities class actions in California federal and state court that allege the peer-to-peer lending company misled investors in the run-up to its $1 billion initial public offering in 2014.

  8. February 20, 2018

    Judge Nixes LendingClub Investor Bid For Underwriter Docs

    Morgan Stanley, Goldman Sachs and the other underwriters of LendingClub Corp.'s $1 billion initial public offering for now don't have to produce roughly a thousand documents sought by a class of investors suing the peer-to-peer lending company for alleged stock fraud, a California federal judge ruled Tuesday.

  9. October 20, 2017

    Judge OKs LendingClub Investor Class, Competing State Suit

    Investors in LendingClub Corp. who accused the online lender of stock fraud were recognized as a class in California federal court on Friday, but the judge allowed a competing state-court case to advance despite his skepticism that it would result in a better outcome for investors.

  10. October 12, 2017

    LendingClub Investors Poised To Win Cert. Over Objections

    A California federal judge Thursday said he will likely certify a class of LendingClub Corp. investors who allege the peer-to-peer lending company hid defects in its internal controls before and after its $1 billion initial public offering, over objections from both the company and investors pursuing separate state law claims.

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