Company Website:
http://www.johnsonandweaver.com
SAN DIEGO -- (Business Wire)
Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating
potential violations of the federal securities laws by On Deck Capital,
Inc. (NYSE: ONDK) and certain of its officers and directors. On Deck
provides financing products to small businesses in the United States. It
offers fixed term loans and revolving lines of credit.
Specifically, Johnson & Weaver’s investigation seeks to determine
whether certain statements regarding On Deck’s business and prospects
were false and misleading when made.
On December 17, 2014, On Deck stock opened for trading at $23.24, the
same day that the Company sold 11.5 million shares of stock in its
initial public stock offering (the “IPO”). However, just six months
after its IPO in early July, On Deck common stock had dropped below $12
per share, a decline of over 40% from the IPO price and a nearly 60%
decline from its approximately $28 per share high.On Deck’s
stock price decline has resulted from Company issued press releases
along with analysts’ reports regarding shifts in its lending practices
to less profitable channels and longer term loans and the resulting
material adverse effects on the Company’s interest rate spread earnings.
If you have information that could assist in this investigation, or
if you are an On Deck shareholder and are interested in learning more
about the investigation or your legal rights and remedies, please
contact Jim Baker (jimb@johnsonandweaver.com) by
email or by phone at 619-814-4471. If emailing, please include a phone
number where you can be reached.
About Johnson & Weaver, LLP:
Johnson & Weaver, 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. For more information
about the firm and its attorneys, please visit http://www.johnsonandweaver.com.
Attorney advertising. Past results do not guarantee future outcomes.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150731005898/en/
Contacts:
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
jimb@johnsonandweaver.com
Source: Johnson & Weaver, LLP
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