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UPST SHAREHOLDER ALERT: Jakubowitz Law Reminds Upstart Shareholders of a Lead Plaintiff Deadline of July 12, 2022

NEW YORK, June 3, 2022 – Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Upstart, Inc. (NASDAQ: UPST).

To receive updates on the lawsuit, fill out the form:

The lawsuit seeks to recover losses for shareholders who purchased Upstart between March 18, 2021 and May 9, 2022.

Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until July 12, 2022 to petition the court. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

According to a filed complaint, Upstart, Inc. issued materially false and/or misleading statements and/or failed to disclose that: (1) Upstart’s AI model could not adequately account for macroeconomic factors such as interest rates that impact the market-clearing price for loans; (2) as a result, Upstart was experiencing a negative impact on its conversion rate; (3) as a result, the Company was reasonably likely to use its balance sheet to fund loans; and (4) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.

Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.

This article was shared with Prittle Prattle News  as a Press Release.
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