UPSTART ALERT: Bragar Eagel & Squire, P.C. is Investigating Upstart Holdings, Inc. on Behalf of Upstart Stockholders and Encourages Investors to Contact the Firm
News provided byBragar Eagel & Squire
May 12, 2022, 9:00 PM ET
NEW YORK, May 12, 2022 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Upstart Holdings, Inc. (“Upstart” or the “Company”) (NASDAQ: UPST) on behalf of Upstart stockholders. Our investigation concerns whether Upstart has violated the federal securities laws and/or engaged in other unlawful business practices.
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On May 9, 2022, after the market closed, Upstart announced its first quarter 2022 financial results in a press release. Therein, the Company reduced its fiscal 2022 guidance, expecting revenue of approximately $1.25 billion and contribution margin of 48%. During the related conference call, Upstart’s Chief Financial Officer cite “rising interest rates and rising consumer delinquencies [as] putting downward pressure on conversion.”
On this news, the Company’s stock price fell $43.52, or 56%, to close at $33.61 per share on May 10, 2022.
If you purchased or otherwise acquired Upstart shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.