advertisement
advertisement
advertisement

Report: Lending Club’s disgraced founder looks to reclaim control

Lending Club cofounder and CEO Renaud Laplanche was forced to resign last month after the company’s board discovered that he had played a role in doctoring documents related to $22 million in loans that had been purchased by an institutional investor. In the weeks that followed, Lending Club shares lost half their value and the U.S. Justice Department opened an investigation.  

Now, Reuters reports that a defiant Laplanche is talking with investors about buying out the online lending company. Lending Club, which announced on Tuesday that would delay its annual meeting to June 28 while it scrambles to rebuild trust, declined to comment on the report. 

[Photo: Flickr user OFFICIAL LEWEB PHOTOS]

advertisement
advertisement