Class action lawsuit filed at Opendoor: Johnson fistula encouraged

Class action lawsuit filed at Opendoor: Johnson fistula encouraged


SAN DIEGO, Oct. 07, 2022 (GLOBE NEWSWIRE) — Law Firm for Shareholder Rights Johnson Fistula, LLP announces that a class action lawsuit has been filed on behalf of investors in Opendoor Technologies Inc. (“Opendoor” or the “Company”) OPEN. The Class Action is effective on behalf of shareholders who purchased Opendoor Common Stock between December 21, 2020 and September 16, 2022, both dates inclusive (the “Class Period”); and/or (b) Opendoor common stock pursuant to and/or attributable to the offering documents issued in connection with the business combination between the Company and Opendoor Labs Inc. (“Legacy Opendoor”) that took place on or about December 18, 2020 (the “Merger”). Investors are hereby notified that they have until December 6, 2022 to request the court to appear as lead plaintiff in this lawsuit.

What actions can I take at this time? If you have suffered a loss and would like to learn more about whether you are a Lead Plaintiff, please contact Jim Baker ([email protected]) via email or phone at 619-814-4471. When emailing, please include your phone number.

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The complaint alleges that the merger offer documents were prepared negligently and, as a result, contained untrue statements about material facts or failed to disclose other facts necessary for the statements made not to be misleading and that they are inconsistent created with the rules and regulations governing their preparation. In addition, during the Class Period, the Defendants made materially false and misleading statements about the Company’s business, operations and prospects. In particular, the Offering Documents and Defendants made false and/or misleading statements and/or failed to disclose the following: (i) the algorithm (“Algorithm”) used by the Company to make offerings for properties could not accurately match changing…

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