OPEN SHAREHOLDER ALERT: Jakubowitz Law Reminds Opendoor Shareholders of a Lead Plaintiff Deadline of December 6, 2022

NEW YORK, Dec. 2, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Opendoor Technologies Incorporated (NASDAQ: OPEN).

To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/opendoor-technologies-incorporated-loss-submission-form/?id=34195&from=4

This lawsuit is on behalf of a class consisting of all persons and entities other than defendants that purchased or otherwise acquired: (a) Opendoor securities between December 21, 2020 and September 16, 2022, both dates inclusive; (b) Opendoor 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; (c) Opendoor common stock pursuant and/or traceable to the documents issued in connection with the Company's secondary public offering that was completed on or about February 9, 2021; and/or (d) Opendoor common stock pursuant and/or traceable to the documents issued in connection with the Company's secondary public offering that was completed on or about September 17, 2021.

Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until December 6, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

According to a filed complaint, Opendoor Technologies Incorporated issued materially 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.

Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887

View original content:https://www.prnewswire.com/news-releases/open-shareholder-alert-jakubowitz-law-reminds-opendoor-shareholders-of-a-lead-plaintiff-deadline-of-december-6-2022-301692121.html

SOURCE Jakubowitz Law