THETHE COMPLAINTS’ DEADLINE IS DECEMBER 6, 2022
NEW YORK, Oct. 14, 2022 (GLOBE NEWSWIRE) — Wolf Haldenstein Adler Freeman & Herz LLP announces that a state securities class action lawsuit has been filed in the United States District Court for the District of Arizona on behalf of the shareholders of Opendoor Technologies Inc. (“Opendoor” or the “Company”) (NASDAQ: OPEN) which has purchased the following :
- Opendoor Securities between December 21, 2020 and September 16, 2022 inclusive (the “Collection Period”); and or
- 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., which was completed on or about December 18, 2020.
All investors who have bought the Shares and suffered losses are advised to contact the Company immediately at [email protected] or (800) 575-0735 or (212) 545-4774. You can get additional information about the promotion or join the case on our website, www.whafh.com.
If you have suffered losses, you can at the latest December 6, 2022, request that the court appoint you lead plaintiff in the proposed class. Please contact Wolf Haldenstein to learn more about your rights.
On September 19, 2022, Bloomberg reported that Opendoor appeared to have lost money on 42% of its transactions in August 2022, further stating that the data was even worse in key markets where Opendoor lost money on up to 76% of sales. The results showed that Opendoor’s algorithm could not accurately adapt to changing market conditions.
As a result of this news, Opendoor’s stock fell $0.50, or 12.3%, over the next two consecutive trading days to close at $3.56 per share on September 20, 2022, hurting investors.
Wolf Haldenstein has extensive experience pursuing securities class actions and derivatives disputes in state and federal courts and appellate courts across the country. The firm has attorneys in various areas of law; and offices…
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