Financial technology upstart GreenSky Inc. made false and misleading statements in connection with its recent $1 billion initial public offering, according to an investor’s proposed class action.
The company misled investors about how its shift away from the solar paneling industry and toward the elective health-care industry would reduce its revenue, the Nov. 27 lawsuit claims. This shift allegedly caused GreenSky’s stock to drop from $23 per share at its May 2018 IPO to $9.28 per share six months later.
GreenSky, founded in 2006, offers a platform for businesses in the home improvement industry to offer loans allowing customers to ...
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