Retail mortgage lender LoanDepot and its top executives were slapped with a derivative shareholder complaint Friday in California Central District Court. The suit, filed by Bragar Eagel & Squire and Hynes & Hernandez on behalf of Haydon Modglin, accuses the defendants of failing to disclose to investors that sales margins had declined substantially when LoanDepot went public in February of 2021. Counsel have not yet appeared for the defendants. The case is 2:22-cv-00462, Modglin v. Hsieh et al.
Banking & Financial Services
January 21, 2022, 6:03 PM