SAN DIEGO, April 23, 2023 (GLOBE NEWSWIRE) -- Johnson Fistel, LLP is investigating potential claims on behalf of Opendoor Technologies Inc. (“Opendoor” or the “Company”) (NASDAQ: OPEN) against certain of its officers and directors.
If you are a current, long-term shareholder of Opendoor holding shares before December 21, 2020, you can click or copy and paste the link below in a browser to join this action:
https://www.johnsonfistel.com/investigations/opendoor-technologies-inc-open
Recently a class action complaint was filed against Opendoor. The filed complaint alleges that defendants made false statements and/or concealed 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.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. Johnson Fistel seeks to recover losses incurred due to violations of federal securities laws. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, Lead Securities Analyst
Telephone: (619) 814-4471
Email: jimb@johnsonfistel.com
