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May 9, 2016

Lending Club shares are crashing after its CEO resigns

Renaud LaPlanche, Lending Club Lending Club shares are down more than 25% — shaving off hundreds of millions of dollars off the company’s roughly $2.5 billion market cap — after it announced its CEO would resign following an internal review of $22 million in near-prime loan sales to a single investor.
Renaud Laplanche will leave the company after a review of a loan sale that didn’t meet the… Read More

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