Opendoor Class Action Lawsuit OPEN | Deadline December 6, 2022
Announcement! OPEN class action lawsuit (Opendoor Class Action Lawsuit) has been filed on behalf of investors who purchased Opendoor Technologies Incorporated (OPEN) This lawsuit is on behalf of a class consisting of all persons and entities other than the defendants that purchased or otherwise acquired: (a) Opendoor securities between December 21, 2020, and September 16, 2022, both dates inclusive and/or (b) Opendoor common stock pursuant and/or traceable to documents issued in connection with the business combination between the Company and Opendoor Labs Inc. completed on or about December 18, 2020.
According to the Opendoor lawsuit, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that:
(i) The Company’s home-making algorithm was unable to effectively react to shifting real estate values across various market circumstances and economic cycles;
(ii) Consequently, the Company was more likely to suffer substantial and repeated losses as a result of changes in residential real estate pricing;
(iii) Consequently, the defendants exaggerated the algorithm’s alleged advantages in terms of competitiveness and benefits;
(iv) As a result, information that needed to be stated in the documents released in conjunction with the merger between the Company and Opendoor Labs Inc. was omitted, and the defendants’ public representations made during the class period were materially false and/or misleading.
If you suffered a loss in Opendoor you have until December 6, 2022, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Opendoor Class Action Lawsuit (OPEN Lawsuit)
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