Monday, May 9, 2016

LendingClub Shares Tumble After CEO Laplanche Resigns

LendingClub Corp. said that Renaud Laplanche has resigned as chairman and CEO of the company following an internal review of sales of $22 million in near-prime loans to a single investor that failed to conform to the investor's express instructions. Shares of the company are down 25 percent following the news.

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