The company's Q1 results may fuel hopes that it “can shake off the effects of a two year-old governance scandal and a big regulatory squeeze.”
The FTC says the lender collected “hundreds or even thousands of dollars” as an upfront fee while telling consumers it charged "no hidden fees" on loans.
The online lender's revenue fell 33% as it struggled to obtain loan funding from investors.
The DOJ opens an investigation while the marketplace lender hunts for additional capital to fund originations.
Six technology IPOs priced last week, with mixed results.
