OPENDOOR TECHNOLOGIES INC. CLASS ACTION ALERT: Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed in the United States District Court for the District of Arizona
LEAD PLAINTIFF DEADLINE IS DECEMBER 6, 2022
NEW YORK, Oct. 14, 2022 (GLOBE NEWSWIRE) — Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed in the United States District Court for the District of Arizona on behalf of shareholders of Opendoor Technologies Inc. (“Opendoor” or the “Company”) (NASDAQ: OPEN) who purchased:
- Opendoor securities between December 21, 2020 and September 16, 2022, inclusive (the “Class Period”); and/or
- common stock pursuant and/or traceable to the Offering Documents issued in connection with the business combination between the Company and Opendoor Labs Inc. completed on or about December 18, 2020.
All investors who purchased the shares and incurred losses are advised to contact the firm immediately at [email protected] or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com.
If you have incurred losses you may, no later than December 6, 2022, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights.
PLEASE CLICK HERE TO JOIN THE CASE
On September 19, 2022, Bloomberg reported that Opendoor appeared to have lost money on 42% of its transactions in August 2022, further stating that data was even worse in key markets, where Opendoor lost money on up to 76% of sales. The findings evidenced the failure of Opendoor’s algorithm to accurately adjust to changing market conditions.
On 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, thereby injuring investors.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at [email protected]
Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: [email protected], [email protected] or [email protected]
Tel: (800) 575-0735 or (212) 545-4774
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