Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until July 12, 2022 to file lead plaintiff applications in a securities class action lawsuit against Upstart Holdings, Inc. (NasdaqGS: UPST).

Upstart and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.

On May 9, 2022, post-market, the Company revealed its 1Q2022 financial results, disclosing a reduction to its fiscal 2022 guidance, expecting revenue of approximately $1.25 billion and contribution margin of 48% due to “rising interest rates and rising consumer delinquencies [as] putting downward pressure on conversion.”

On this news, shares of Upstart fell $43.52, or 56%, to close at $33.61 per share on May 10, 2022.

If you purchased securities of Upstart as above and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or fill out the form on this page.

The case is Ward v. Upstart Holdings, Inc., No. 22-cv-02856.
Click here to read the first filed complaint.
Click here to read the subsequent complaint.