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"Ousted Lending Club CEO and co-founder Renaud Laplanche has been speaking to private equity firms and banks about financing a potential buyout of the online lender, according to people familiar with the matter. The French entrepreneur, one of the highest-profile names in the fledgling industry, left Lending Club in May after an internal probe found the company had falsified documentation when selling $22 million of loans to an investor. The scandal sent shock waves through a sector already dealing with investor nervousness about rising loan losses and cratered LendingClub’s stock, which has lost nearly 40 percent of its value in under a month. In the weeks following his May 9 departure, Laplanche approached firms about financing a bid to take the company private, the people said. The talks were preliminary and may not lead to a deal, said the sources, who asked not to be named because the matter is private. Laplanche declined to comment on his future plans. A", nypost.com
"Renaud Laplanche, who stepped down as LendingClub Corp.’s leader a month ago, has since spoken to buyout firms and banks about the possibility of trying to take over the company, Reuters reported, citing unidentified people familiar with the matter.", www.bloomberg.com
"LendingClub Corp. abruptly adjourned its annual shareholder meeting Tuesday, saying it wasn’t ready to address investors after a leadership shakeup last month. It also overhauled criteria for consumer loans arranged online. The company’s stock halted ...", www.sltrib.com
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