PHILADELPHIA, Feb. 06, 2023 (GLOBE NEWSWIRE) -- Kaskela Law LLC announces that it is investigating OppFi Inc. (: OPFI) on behalf of the company’s long-term investors.
OppFi operates a financial technology platform that allows banks to offer lending products. The current company was formed in July 2021 via a business combination with SPAC entity FG New America Acquisition Corp. (: FGNA), with OppFi as the surviving, publicly traded entity.
Immediately following the closing of the business combination in July 2021, shares of OppFi’s stock traded at approximately $10.00 per share. Subsequently, in the year following the business combination, shares of OppFi’s stock declined in value to approximately $3.00 per share, a cumulative decline of $7.00 per share, or over 70% in value.
The investigation seeks to determine whether OppFi and/or the company’s representatives violated the securities laws or breached their fiduciary duties to stockholders in connection with the business combination, thereby causing investor losses.
OppFi investors who purchased or acquired shares of FGNA or OPFI stock prior to June 21, 2021 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at (484) 229 – 0750, or by email ([email protected] / [email protected]) or online at https://kaskelalaw.com/cases/oppfi/ , to receive additional information about this investigation and their legal rights and options.
Kaskela Law LLC exclusively represents investors in securities fraud, corporate governance, and merger & acquisition litigation. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com. This notice may constitute attorney advertising in certain jurisdictions.
CONTACT:
KASKELA LAW LLC
D. Seamus Kaskela, Esq.
Adrienne Bell, Esq.
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(888) 715 – 1740
(484) 229 – 0750
www.kaskelalaw.com
