Harwood Feffer LLP Announces Investigation of LendingClub Corporation

NEW YORK, May 9, 2016 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of LendingClub Corporation ("LendingClub" or the "Company") (NYSE: LC), concerning whether the board has breached its fiduciary duties to shareholders.

On May 9, 2016, the Company issued a press release disclosing that LendingClub's Chairman and Chief Executive Officer had resigned following an internal review of sales of $22 million in near-prime loans to a single investor, in contravention of the investor's express instructions. 

Our investigation concerns whether the Company board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the Company, and/or committed abuses of control in connection with the foregoing.

If you own LendingClub shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:

Robert I. Harwood, Esq.
Benjamin I. Sachs-Michaels, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
(212)935-7400
Email:  bsachsmichaels@hfesq.com
Website:   http://www.hfesq.com 
Follow us on Twitter: @HarwoodFeffer

Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm. 

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SOURCE Harwood Feffer LLP