SAN DIEGO, Nov. 11, 2022 (GLOBE NEWSWIRE) — Shareholder Rights Law Firm Johnson Fistula, LLP announces that a class action lawsuit has been commenced on behalf of investors in Opendoor Technologies Inc. (“Opendoor” or the “Company”) (NASDAQ: 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 being a lead plaintiff, please contact Jim Baker ([email protected]) by 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 of material facts or failed to disclose other facts necessary for the statements made not to be misleading and that they were not in accordance with the rules and regulations governing their preparation. In addition, throughout the Class Period, the Defendants made materially false and misleading statements regarding the Company’s business, operations and prospects. In particular, the Offering Documents and Defendants have made false and/or misleading statements and/or failed to disclose: (i) the algorithm (“Algorithm”) used by the Company to generate bids for…
Continue to read on GlobeNewswire https://www.globenewswire.com/news-release/2022/11/11/2554243/0/en/Opendoor-Class-Action-Complaint-Filed-Johnson-Fistel-Encourages-Shareholders-to-Contact-the-Firm.html