NEW YORK, Sept. 27, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Opendoor Technologies, Inc. (“Opendoor” or the “Company”) (NASDAQ: OPEN). Those investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, extension 7980.

The investigation concerns whether Opendoor and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.

[Click here for information about joining the class action]

On September 19, 2022, citing a review of industry data, Bloomberg reported that Opendoor appeared to have lost money on 42% of its transactions in August 2022 (measured by the prices at which it bought and sold properties). Bloomberg went on to report that the data was even worse in key markets like Los Angeles, where Opendoor lost money on 55% of sales, and Phoenix, where it lost money on 76% of sales.

Subsequent to Bloomberg According to a report, Opendoor’s stock price fell $0.50 per share, or 12.32%, in the following two trading sessions to close at $3.56 per share on September 20, 2022.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris and Tel Aviv, is recognized as one of the leading law firms specializing in corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, best known as Dean of the Class Bar Association, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he founded and fights for the rights of victims of securities fraud, fiduciary breaches and corporate wrongdoing. The firm has recovered numerous multi-million dollar claims on behalf of group members. See www.pomlaw.com.

CONTACT:
Robert S Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980