NEW YORK, Nov. 30, 2022 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Opendoor Technologies Incorporated.
Shareholders who purchased shares of OPEN during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.
CONTACT US HERE:
CLASS PERIOD: This lawsuit is on behalf of a class consisting of all persons and entities other than defendants that purchased or otherwise acquired: (a) Opendoor securities between December 21, 2020 and September 16, 2022, both dates inclusive; (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; (c) Opendoor common stock pursuant and/or traceable to the documents issued in connection with the Company's secondary public offering that was completed on or about February 9, 2021; and/or (d) Opendoor common stock pursuant and/or traceable to the documents issued in connection with the Company's secondary public offering that was completed on or about September 17, 2021.
ALLEGATIONS: The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (i) the algorithm used by the Company to make offers for homes could not accurately adjust to changing house prices across different market conditions and economic cycles; (ii) as a result, the Company was at an increased risk of sustaining significant and repeated losses due to residential real estate pricing fluctuations; (iii) accordingly, defendants overstated the purported benefits and competitive advantages of the algorithm; (iv) as a result, documents issued in connection with the merger between the Company and Opendoor Labs Inc. and defendants' public statements throughout the class period were materially false and/or misleading and failed to state information required to be stated therein.
DEADLINE: December 6, 2022 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/opendoor-technologies-class-action-submission-form/?id=34108&from=4
NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of OPEN during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is December 6, 2022. There is no cost or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
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SOURCE The Gross Law Firm