NEW YORK, November 22, 2022 /PRNewswire/ —
WHY: Rosen Law Firm, a global investor rights law firm, reminds buyers and acquirers of the securities of Opendoor Technologies Inc. f/k/a Social Capital Hedosophia Holdings Corp. II (NASDAQ: OPEN): (i) between December 21, 2020 and September 16, 2022, both dates inclusive (the “Class Period”); and/or (ii) pursuant to and/or traceable to the offering documents issued in connection with the business combination between Social Capital Hedosophia Holdings Corp. II and Opendoor Labs Inc. made on or about December 18, 2020 (the “Merger”) of the important December 6, 2022 lead applicant deadline.
SO WHAT: If you acquired Opendoor securities, you may be entitled to compensation without payment of fees or out-of-pocket costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the Opendoor class action, go to https://rosenlegal.com/submit-form/?case_id=9133 or call Phillip Kim, Esq. toll free at 866-767-3653 or by email [email protected] Where [email protected] for more information on the class action. A class action lawsuit has already been filed. If you wish to act as lead plaintiff, you must move the Court not later than December 6, 2022. A lead plaintiff is a representative party acting on behalf of other class members to direct litigation.
WHY THE ROSEN LAW: We encourage investors to select qualified attorneys with proven track records in leadership roles. Often, companies issuing reviews do not have comparable experience, resources, or significant peer recognition. Many of these firms do not actually handle securities class action lawsuits, but are merely middlemen who refer clients or partner with law firms that actually litigate the cases. Be wise in choosing lawyers. Rosen Law Firm represents investors worldwide, focusing its practice on securities class action and shareholder derivative litigation. Rosen Law Firm has reached the largest securities class action settlement against a Chinese company. Rosen Law Firm was ranked #1 by ISS Securities Class Action Services for the number of securities class action settlements in 2017. The firm has ranked in the top 4 every year since 2013 and has recovered hundreds of million dollars for investors. In 2019 alone, the company obtained more than $438 million for investors. In 2020, founding partner Laurence Rosen has been named by law360 as a Titan of the Plaintiffs Bar. Many of the firm’s lawyers have been recognized by Lawdragon and Super Lawyers.
CASE DETAILS: According to the lawsuit, the offer documents for the Merger were negligently prepared and, as a result, contained misrepresentations of material facts or failed to state other facts necessary for the statements made not to be misleading and not misleading. were not prepared in accordance with the rules and regulations governing their preparation. Additionally, according to the lawsuit, throughout the class action period, the defendants made materially false and misleading statements regarding the company’s business, operations and prospects. Specifically, the Offer Materials and the Defendants made false and/or misleading statements and/or failed to disclose that: (1) the algorithm (“Algorithm”) used by Opendoor to make offers for homes does not could not accurately adapt to changing house prices in different market conditions and economic cycles; (2) as a result, Opendoor was at increased risk of sustaining significant and repeated losses due to fluctuations in residential real estate prices; (3) as a result, defendants exaggerated the algorithm’s purported advantages and competitive advantages; and (4) as a result, the Defendants’ offering documents and public statements throughout the Class Period were materially false and/or misleading and failed to provide the information that should be contained therein. When the real details entered the market, the lawsuit claims investors suffered damages.
To join the Opendoor class action, go to https://rosenlegal.com/submit-form/?case_id=9133 or call Phillip Kim, Esq. toll free at 866-767-3653 or by email [email protected] Where [email protected] for more information on the class action.
No class has been certified. Until a class is certified, you are not represented by an attorney unless you retain one. You can choose the lawyer of your choice. You can also remain an absent group member and do nothing at this point. An investor’s ability to participate in any potential future recovery does not depend on their status as lead plaintiff.
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Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, Pennsylvania
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
SOURCE Rosen Law Firm, Pennsylvania