Tuesday, 11 February 2025 04:10 PM
Class Action
Shares of Pagaya Technologies Stock Down More Than 11% During Intraday Trading on February 11, 2025
PHILADELPHIA, PA / ACCESS Newswire / February 11, 2025 / Kehoe Law Firm, P.C. is investigating potential securities claims on behalf of investors of Pagaya Technologies Ltd. ("Pagaya") (NASDAQ:PGY) for potential violations of federal securities laws.
Investing.com reported that Pagaya stock ". . . shares fell 6% following a short report from Iceberg Research that criticized the fintech company's financial practices and management history. Iceberg Research publicly announced its short position, claiming that Pagaya has used third-party funds to hide significant losses."
The Iceberg Research report, according to Investing.com ". . . detailed how Pagaya underwrites consumer loans that were originally rejected by its partners due to high risk. It then sells the majority of these loans through asset-backed securities (ABS) to institutional investors. Iceberg Research highlighted a pattern of questionable management decisions and potential conflicts of interest, pointing to the involvement of Pagaya's CTO Avital Pardo in a previously collapsed company and President Sanjiv Das's history of overlooking misconduct."
Shares of Pagaya stock were down more than 11% during intraday trading on February 11, 2025.
INVESTORS OF PAGAYA STOCK ARE ENCOURAGED TO SEND US A MESSAGE OR CONTACT JOHN KEHOE, ESQ., (215) 792-6676, EXT. 801, [email protected], [email protected], TO LEARN MORE ABOUT THE PAGAYA SECURITIES CLASS ACTION INVESTIGATION AND POTENTIAL LEGAL CLAIMS.
Kehoe Law Firm, P.C. is a multidisciplinary, plaintiff-side class action law firm dedicated to protecting investors from securities fraud, breaches of fiduciary duties, and corporate misconduct. Combined, the partners at Kehoe Law Firm, P.C. have served as Lead Counsel or Co-Lead Counsel in cases that have recovered more than $10 billion on behalf of institutional and individual investors.
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SOURCE: Kehoe Law Firm, P.C.