Opendoor Class Action Loss Submission Form

The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the District of Arizona on behalf of investors who purchased Opendoor Technologies Incorporated (NASDAQ: OPEN) (a) securities between December 21, 2020 and September 16, 2022 and/or (b) common stock pursuant and/or traceable to documents issued in connection with the business combination between the Company and Opendoor Labs Inc. completed on or about December 18, 2020.

According to the Opendoor lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (i) the algorithm used by the Company to make offers for homes could not accurately adjust to changing house prices across different market conditions and economic cycles; (ii) as a result, the Company was at an increased risk of sustaining significant and repeated losses due to residential real estate pricing fluctuations; (iii) accordingly, defendants overstated the purported benefits and competitive advantages of the algorithm; (iv) as a result, documents issued in connection with the merger between the Company and Opendoor Labs Inc. and defendants’ public statements throughout the class period were materially false and/or misleading and failed to state information required to be stated therein.

If you suffered a loss in Opendoor you have until December 6, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

To receive more information, please fill out the form.

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