Rosen Law Firm Encourages Upstart Investors to Secure Counsel Before Deadline

Class action lawsuit filed over alleged misstatements about Upstart's loan approval model

Apr. 16, 2026 at 3:53am

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A photorealistic studio still life featuring a stack of legal documents, a pen, and a calculator arranged on a clean white background, symbolizing the abstract concepts of corporate strategy, finance, and risk.A legal case against a fintech company alleges misleading financial reporting, exposing investors to potential losses.NYC Today

Rosen Law Firm, a global investor rights law firm, has announced a class action lawsuit on behalf of purchasers of Upstart Holdings, Inc. securities between May 14, 2025 and November 4, 2025. The lawsuit alleges that Upstart made false and/or misleading statements about its loan approval model, Model 22, which allegedly overreacted to negative macroeconomic signals and had a significant negative impact on the company's revenue.

Why it matters

This case highlights the importance of transparency and accuracy in financial reporting, especially for publicly traded companies. Investors rely on companies to provide truthful information about their business performance and outlook, and allegations of misleading statements can have serious consequences.

The details

According to the lawsuit, Upstart allegedly made false and/or misleading statements about Model 22, claiming that it was more accurate and would increase loan approval rates, when in reality it was overly conservative and had a significant negative impact on the company's revenue. The lawsuit claims that when the true details about Model 22 entered the market, investors suffered damages.

  • The class period is from May 14, 2025 to November 4, 2025.
  • The deadline for investors to join the class action is June 8, 2026.

The players

Rosen Law Firm

A global investor rights law firm that has filed the class action lawsuit on behalf of Upstart investors.

Upstart Holdings, Inc.

A financial technology company that provides AI-powered lending services.

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What they’re saying

“To join the Upstart class action, go to https://rosenlegal.com/submit-form/?case_id=58653 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action.”

— Phillip Kim, Esq.

What’s next

The deadline for investors to join the class action is June 8, 2026. The court will then decide whether to certify the class, and if so, investors will be represented by counsel in the litigation.

The takeaway

This case highlights the importance of accurate financial reporting and the potential consequences for companies that allegedly make false or misleading statements. Investors should carefully review information provided by publicly traded companies and seek legal counsel if they believe they have been harmed by such statements.