Upstart faces securities fraud probe after missing Q3 targets and stock drop

Upstart Holdings is under investigation by Pomerantz LLP for possible securities fraud after the company missed its third-quarter expectations. The miss was linked to its Model 22 underwriting system, which lowered borrower approvals and conversion rates, causing a sharp decline in Upstart's stock price. The investigation will determine if Upstart's officers or directors engaged in unlawful business practices. Investors affected are encouraged to contact Pomerantz LLP to join the class action lawsuit.