{"success":true,"data":{"pressRelease":{"id":"2999","rtpr_id":"nPnvH0F7a","ticker":"UPST","exchange":"NASDAQ","all_tickers":["UPST"],"title":"UPST INVESTOR NOTICE: Faruqi & Faruqi, LLP Reminds Upstart (UPST) Investors of Securities Class Action Deadline on June 8, 2026","author":"PR Newswire","published_at":"2026-04-21T13:30:27.263Z","article_body":"UPST INVESTOR NOTICE: Faruqi & Faruqi, LLP Reminds Upstart (UPST) Investors of Securities Class Action Deadline on June 8, 2026\n\nPR Newswire\n\nNEW YORK, April 21, 2026\n\nFaruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4668786-1&h=2408291468&u=https%3A%2F%2Ffaruqilaw.com%2Fgo%2Fvz0syySXXx%2F&a=James+(Josh)+Wilson)\nEncourages Investors Who Suffered Losses In Upstart To Contact Him Directly To\nDiscuss Their Options\n\nIf you purchased or acquired securities in Upstart\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4668786-1&h=807015142&u=https%3A%2F%2Ffaruqilaw.com%2Fgo%2Fhr0RZo5kru%2F&a=Upstart)\nbetween May 14, 2025 and November 4, 2025 and would like to discuss your legal\nrights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292\nor 212-983-9330 (Ext. 1310).\n\n[You may also click here for additional information]\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4668786-1&h=3721412677&u=https%3A%2F%2Ffaruqilaw.com%2Fgo%2Fhr0RZo5kru%2F&a=%5BYou+may+also+click+here+for+additional+information%5D)\n\nNEW YORK, April 21, 2026 /PRNewswire/ -- Faruqi & Faruqi, LLP\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4668786-1&h=853088750&u=https%3A%2F%2Ffaruqilaw.com%2Fgo%2FjT18JUdJ8n%2F&a=Faruqi+%26+Faruqi%2C+LLP)\n, a leading national securities law firm, is investigating potential claims\nagainst Upstart Holdings, Inc. (\"Upstart\" or the \"Company\") (NASDAQ: UPST) and\nreminds investors of the June 8, 2026 deadline to seek the role of lead\nplaintiff in a federal securities class action that has been filed against the\nCompany.\n\n(https://mma.prnewswire.com/media/2457438/Faruqi_Logo.html)\n\nFaruqi & Faruqi is a leading national securities law firm with offices in\nNew York, Pennsylvania, California and Georgia. The firm has recovered\nhundreds of millions of dollars for investors since its founding in 1995. See\nwww.faruqilaw.com\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4668786-1&h=216552791&u=https%3A%2F%2Ffaruqilaw.com%2Fgo%2FjT18JUdJ8n%2F&a=www.faruqilaw.com)\n.\n\nAs detailed below, the complaint alleges that the Company and its executives\nviolated federal securities laws by making false and/or misleading statements\nand/or failing to disclose that: (1) Model 22 frequently overreacted to\nnegative macroeconomic signals in performing its risk-separation processes;\n(2) accordingly, Model 22's overall accuracy and propensity to increase loan\napproval rates was overstated; (3) Model 22's overly conservative assessment\nof credit and macroeconomic conditions was having a significant negative\nimpact on Upstart's revenue results, rendering the Company's previously issued\nFY 2025 revenue guidance unreliable and/or unrealistic; and (4) as a result,\nDefendants' public statements were materially false and misleading at all\nrelevant times.\n\nThe truth began to emerge on November 4, 2025, when Upstart issued a press\nrelease reporting its financial results for the third quarter (\"Q3\") of\n2025.  Upstart reported, inter alia, Q3 2025 revenue of $277 million, missing\nits previously issued Q3 2025 revenue guidance of approximately $280 million,\nas well as consensus estimates by $2.62 million.  Upstart also reported that\nit expected to generate revenue of only $288 million in the fourth quarter\n(\"Q4\") of 2025, significantly below consensus estimates of $303.7 million.\nFurther, Upstart negatively revised its FY 2025 revenue guidance to\napproximately $1.035 billion, versus the $1.06 billion consensus estimate and\nits prior guidance of approximately $1.055 billion, as well as its expected FY\n2025 revenue from fees, which it reduced to approximately $946 million from\nits prior outlook of approximately $990 million.\n\nThe same day, during a related earnings call, Defendants blamed Upstart's\ndisappointing results on Model 22, which they revealed had \"overreact[ed]\" to\nmacroeconomic signals in the quarter, reducing borrower approvals and\nconversion rates.  Defendants also acknowledged that they had \"knowingly\"\ncalibrated their AI model to be \"more conservative on the credit side in\nearlier parts of the quarter\", and that the negative impacts of Model 22's\n\"overresponsive[ness]\" to macroeconomic signals in the quarter would continue\nto negatively impact revenues in Q4 2025, resulting in Upstart's negatively\nrevised FY 2025 financial guidance.\n\nFollowing these disclosures, Upstart's stock price fell $4.49 per share, or\n9.71%, to close at $41.75 per share on November 5, 2025.\n\nThe court-appointed lead plaintiff is the investor with the largest financial\ninterest in the relief sought by the class who is adequate and typical of\nclass members who directs and oversees the litigation on behalf of the\nputative class. Any member of the putative class may move the Court to serve\nas lead plaintiff through counsel of their choice, or may choose to do nothing\nand remain an absent class member. Your ability to share in any recovery is\nnot affected by the decision to serve as a lead plaintiff or not.\n\nFaruqi & Faruqi, LLP also encourages anyone with information regarding\nUpstart's conduct to contact the firm, including whistleblowers, former\nemployees, shareholders and others.\n\nTo learn more about the Upstart class action, go to www.faruqilaw.com/UPST\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4668786-1&h=1203630031&u=https%3A%2F%2Ffaruqilaw.com%2Fgo%2Fhr0RZo5kru%2F&a=www.faruqilaw.com%2FUPST)\nor call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or\n212-983-9330 (Ext. 1310).\n\nFollow us for updates on LinkedIn\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4668786-1&h=2651510184&u=https%3A%2F%2Ffaruqilaw.com%2Fgo%2Fm10zNKEQEA%2F&a=LinkedIn)\n, on X\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4668786-1&h=1179745149&u=https%3A%2F%2Ffaruqilaw.com%2Fgo%2F5InDyyjoUL%2F&a=X)\n, or on Facebook\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4668786-1&h=1934554270&u=https%3A%2F%2Ffaruqilaw.com%2Fgo%2F0tgJ38Yap8%2F&a=Facebook)\n.\n\nAttorney Advertising. The law firm responsible for this advertisement is\nFaruqi & Faruqi, LLP (www.faruqilaw.com\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4668786-1&h=216552791&u=https%3A%2F%2Ffaruqilaw.com%2Fgo%2FjT18JUdJ8n%2F&a=www.faruqilaw.com)\n). Prior results do not guarantee or predict a similar outcome with respect to\nany future matter. We welcome the opportunity to discuss your particular case.\nAll communications will be treated in a confidential manner.\n\n(https://mma.prnewswire.com/media/2745617/Faruqi__Faruqi_LLP_James_Josh_Wilson.html)\n\nView original content to download\nmultimedia:https://www.prnewswire.com/news-releases/upst-investor-notice-faruqi--faruqi-llp-reminds-upstart-upst-investors-of-securities-class-action-deadline-on-june-8-2026-302748312.html\n(https://www.prnewswire.com/news-releases/upst-investor-notice-faruqi--faruqi-llp-reminds-upstart-upst-investors-of-securities-class-action-deadline-on-june-8-2026-302748312.html)\n\nSOURCE Faruqi & Faruqi, LLP\n\n\n\nPhoto: \nhttps://mma.prnewswire.com/media/2457438/Faruqi_Logo.jpg\nhttps://mma.prnewswire.com/media/2745617/Faruqi__Faruqi_LLP_James_Josh_Wilson.jpg\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved.","article_body_html":"","raw_payload":{"data":{"id":"nPnvH0F7a","title":"UPST INVESTOR NOTICE: Faruqi & Faruqi, LLP Reminds Upstart (UPST) Investors of Securities Class Action Deadline on June 8, 2026","author":"PR Newswire","ticker":"UPST","created":"2026-04-21T13:30:27.263Z","tickers":["UPST"],"exchange":"NASDAQ","article_body":"UPST INVESTOR NOTICE: Faruqi & Faruqi, LLP Reminds Upstart (UPST) Investors of Securities Class Action Deadline on June 8, 2026\n\nPR Newswire\n\nNEW YORK, April 21, 2026\n\nFaruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4668786-1&h=2408291468&u=https%3A%2F%2Ffaruqilaw.com%2Fgo%2Fvz0syySXXx%2F&a=James+(Josh)+Wilson)\nEncourages Investors Who Suffered Losses In Upstart To Contact Him Directly To\nDiscuss Their Options\n\nIf you purchased or acquired securities in Upstart\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4668786-1&h=807015142&u=https%3A%2F%2Ffaruqilaw.com%2Fgo%2Fhr0RZo5kru%2F&a=Upstart)\nbetween May 14, 2025 and November 4, 2025 and would like to discuss your legal\nrights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292\nor 212-983-9330 (Ext. 1310).\n\n[You may also click here for additional information]\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4668786-1&h=3721412677&u=https%3A%2F%2Ffaruqilaw.com%2Fgo%2Fhr0RZo5kru%2F&a=%5BYou+may+also+click+here+for+additional+information%5D)\n\nNEW YORK, April 21, 2026 /PRNewswire/ -- Faruqi & Faruqi, LLP\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4668786-1&h=853088750&u=https%3A%2F%2Ffaruqilaw.com%2Fgo%2FjT18JUdJ8n%2F&a=Faruqi+%26+Faruqi%2C+LLP)\n, a leading national securities law firm, is investigating potential claims\nagainst Upstart Holdings, Inc. (\"Upstart\" or the \"Company\") (NASDAQ: UPST) and\nreminds investors of the June 8, 2026 deadline to seek the role of lead\nplaintiff in a federal securities class action that has been filed against the\nCompany.\n\n(https://mma.prnewswire.com/media/2457438/Faruqi_Logo.html)\n\nFaruqi & Faruqi is a leading national securities law firm with offices in\nNew York, Pennsylvania, California and Georgia. The firm has recovered\nhundreds of millions of dollars for investors since its founding in 1995. See\nwww.faruqilaw.com\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4668786-1&h=216552791&u=https%3A%2F%2Ffaruqilaw.com%2Fgo%2FjT18JUdJ8n%2F&a=www.faruqilaw.com)\n.\n\nAs detailed below, the complaint alleges that the Company and its executives\nviolated federal securities laws by making false and/or misleading statements\nand/or failing to disclose that: (1) Model 22 frequently overreacted to\nnegative macroeconomic signals in performing its risk-separation processes;\n(2) accordingly, Model 22's overall accuracy and propensity to increase loan\napproval rates was overstated; (3) Model 22's overly conservative assessment\nof credit and macroeconomic conditions was having a significant negative\nimpact on Upstart's revenue results, rendering the Company's previously issued\nFY 2025 revenue guidance unreliable and/or unrealistic; and (4) as a result,\nDefendants' public statements were materially false and misleading at all\nrelevant times.\n\nThe truth began to emerge on November 4, 2025, when Upstart issued a press\nrelease reporting its financial results for the third quarter (\"Q3\") of\n2025.  Upstart reported, inter alia, Q3 2025 revenue of $277 million, missing\nits previously issued Q3 2025 revenue guidance of approximately $280 million,\nas well as consensus estimates by $2.62 million.  Upstart also reported that\nit expected to generate revenue of only $288 million in the fourth quarter\n(\"Q4\") of 2025, significantly below consensus estimates of $303.7 million.\nFurther, Upstart negatively revised its FY 2025 revenue guidance to\napproximately $1.035 billion, versus the $1.06 billion consensus estimate and\nits prior guidance of approximately $1.055 billion, as well as its expected FY\n2025 revenue from fees, which it reduced to approximately $946 million from\nits prior outlook of approximately $990 million.\n\nThe same day, during a related earnings call, Defendants blamed Upstart's\ndisappointing results on Model 22, which they revealed had \"overreact[ed]\" to\nmacroeconomic signals in the quarter, reducing borrower approvals and\nconversion rates.  Defendants also acknowledged that they had \"knowingly\"\ncalibrated their AI model to be \"more conservative on the credit side in\nearlier parts of the quarter\", and that the negative impacts of Model 22's\n\"overresponsive[ness]\" to macroeconomic signals in the quarter would continue\nto negatively impact revenues in Q4 2025, resulting in Upstart's negatively\nrevised FY 2025 financial guidance.\n\nFollowing these disclosures, Upstart's stock price fell $4.49 per share, or\n9.71%, to close at $41.75 per share on November 5, 2025.\n\nThe court-appointed lead plaintiff is the investor with the largest financial\ninterest in the relief sought by the class who is adequate and typical of\nclass members who directs and oversees the litigation on behalf of the\nputative class. Any member of the putative class may move the Court to serve\nas lead plaintiff through counsel of their choice, or may choose to do nothing\nand remain an absent class member. Your ability to share in any recovery is\nnot affected by the decision to serve as a lead plaintiff or not.\n\nFaruqi & Faruqi, LLP also encourages anyone with information regarding\nUpstart's conduct to contact the firm, including whistleblowers, former\nemployees, shareholders and others.\n\nTo learn more about the Upstart class action, go to www.faruqilaw.com/UPST\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4668786-1&h=1203630031&u=https%3A%2F%2Ffaruqilaw.com%2Fgo%2Fhr0RZo5kru%2F&a=www.faruqilaw.com%2FUPST)\nor call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or\n212-983-9330 (Ext. 1310).\n\nFollow us for updates on LinkedIn\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4668786-1&h=2651510184&u=https%3A%2F%2Ffaruqilaw.com%2Fgo%2Fm10zNKEQEA%2F&a=LinkedIn)\n, on X\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4668786-1&h=1179745149&u=https%3A%2F%2Ffaruqilaw.com%2Fgo%2F5InDyyjoUL%2F&a=X)\n, or on Facebook\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4668786-1&h=1934554270&u=https%3A%2F%2Ffaruqilaw.com%2Fgo%2F0tgJ38Yap8%2F&a=Facebook)\n.\n\nAttorney Advertising. The law firm responsible for this advertisement is\nFaruqi & Faruqi, LLP (www.faruqilaw.com\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4668786-1&h=216552791&u=https%3A%2F%2Ffaruqilaw.com%2Fgo%2FjT18JUdJ8n%2F&a=www.faruqilaw.com)\n). Prior results do not guarantee or predict a similar outcome with respect to\nany future matter. We welcome the opportunity to discuss your particular case.\nAll communications will be treated in a confidential manner.\n\n(https://mma.prnewswire.com/media/2745617/Faruqi__Faruqi_LLP_James_Josh_Wilson.html)\n\nView original content to download\nmultimedia:https://www.prnewswire.com/news-releases/upst-investor-notice-faruqi--faruqi-llp-reminds-upstart-upst-investors-of-securities-class-action-deadline-on-june-8-2026-302748312.html\n(https://www.prnewswire.com/news-releases/upst-investor-notice-faruqi--faruqi-llp-reminds-upstart-upst-investors-of-securities-class-action-deadline-on-june-8-2026-302748312.html)\n\nSOURCE Faruqi & Faruqi, LLP\n\n\n\nPhoto: \nhttps://mma.prnewswire.com/media/2457438/Faruqi_Logo.jpg\nhttps://mma.prnewswire.com/media/2745617/Faruqi__Faruqi_LLP_James_Josh_Wilson.jpg\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved."},"type":"article","timestamp":"2026-04-21T13:30:27.326611273Z","server_sent_at_ms":1776778227326},"received_at":"2026-04-21T13:30:27.396Z","source_url":"https://www.prnewswire.com/news-releases/upst-investor-notice-faruqi--faruqi-llp-reminds-upstart-upst-investors-of-securities-class-action-deadline-on-june-8-2026-302748312.html"},"analysis":{"id":"1946","press_release_id":"2999","analysis_json":{"industry":{"label":"Software & Services","sector":"Information Technology"},"redFlags":["Allegations of false statements regarding AI model performance","FY 2025 revenue guidance cut from $1.055 billion to $1.035 billion","Stock dropped 9.71% on November 5, 2025 following earnings disclosure"],"eventType":"legal_litigation","narrative":"Faruqi & Faruqi, LLP reminded investors of the June 8, 2026 deadline to seek lead plaintiff status in a federal securities class action against Upstart Holdings.\n\nThe complaint alleges executives made false statements about Model 22's accuracy, hiding that it overreacted to macro signals and negatively impacted revenue results.\n\nUpstart's stock fell 9.71% on November 5, 2025, after the company cut its FY 2025 revenue guidance to approximately $1.035 billion and missed Q3 estimates.","sentiment":"bearish","agentHooks":{"shouldPost":false,"suggestedAngle":"Class action deadline reminder reiterates historical concerns over Model 22 reliability and guidance credibility."},"keyFigures":{"revenue":277000000,"guidance":"FY 2025 revenue guidance revised to approximately $1.035 billion, from prior guidance of approximately $1.055 billion"},"quotedText":"Model 22 frequently overreacted to negative macroeconomic signals in performing its risk-separation processes","namedEntities":{"people":[{"name":"James (Josh) Wilson","role":"Securities Litigation Partner, Faruqi & Faruqi, LLP"}],"products":["Model 22"],"companies":[{"name":"Upstart Holdings, Inc.","ticker":"UPST","relationship":"defendant"},{"name":"Faruqi & Faruqi, LLP","relationship":"plaintiff counsel"}],"dollarAmounts":[{"amount":"$277 million","context":"Q3 2025 revenue"},{"amount":"$280 million","context":"previously issued Q3 2025 revenue guidance"},{"amount":"$2.62 million","context":"revenue miss versus consensus estimates"},{"amount":"$288 million","context":"expected Q4 2025 revenue"},{"amount":"$303.7 million","context":"Q4 2025 consensus estimates"},{"amount":"$1.035 billion","context":"revised FY 2025 revenue guidance"},{"amount":"$1.06 billion","context":"FY 2025 consensus estimate"},{"amount":"$1.055 billion","context":"prior FY 2025 revenue guidance"},{"amount":"$946 million","context":"reduced expected FY 2025 revenue from fees"},{"amount":"$990 million","context":"prior FY 2025 revenue from fees outlook"},{"amount":"$4.49","context":"stock price drop per share on November 5, 2025"},{"amount":"$41.75","context":"closing share price on November 5, 2025"}]},"materialImpact":{"score":3,"reasoning":"The press release is a reminder for a class action deadline, which is a procedural step, but the underlying allegations regarding false statements about AI model performance and revenue guidance are material. The complaint details a significant guidance cut and a nearly 10% single-day stock drop in late 2025."},"tickerRelevance":{"others":[],"primary":"UPST"},"eventTypeSecondary":[]},"event_type":"legal_litigation","event_type_secondary":null,"sentiment":"bearish","material_impact_score":3,"narrative":"Faruqi & Faruqi, LLP reminded investors of the June 8, 2026 deadline to seek lead plaintiff status in a federal securities class action against Upstart Holdings.\n\nThe complaint alleges executives made false statements about Model 22's accuracy, hiding that it overreacted to macro signals and negatively impacted revenue results.\n\nUpstart's stock fell 9.71% on November 5, 2025, after the company cut its FY 2025 revenue guidance to approximately $1.035 billion and missed Q3 estimates.","key_figures":{"revenue":277000000,"guidance":"FY 2025 revenue guidance revised to approximately $1.035 billion, from prior guidance of approximately $1.055 billion"},"named_entities":{"people":[{"name":"James (Josh) Wilson","role":"Securities Litigation Partner, Faruqi & Faruqi, LLP"}],"products":["Model 22"],"companies":[{"name":"Upstart Holdings, Inc.","ticker":"UPST","relationship":"defendant"},{"name":"Faruqi & Faruqi, LLP","relationship":"plaintiff counsel"}],"dollarAmounts":[{"amount":"$277 million","context":"Q3 2025 revenue"},{"amount":"$280 million","context":"previously issued Q3 2025 revenue guidance"},{"amount":"$2.62 million","context":"revenue miss versus consensus estimates"},{"amount":"$288 million","context":"expected Q4 2025 revenue"},{"amount":"$303.7 million","context":"Q4 2025 consensus estimates"},{"amount":"$1.035 billion","context":"revised FY 2025 revenue guidance"},{"amount":"$1.06 billion","context":"FY 2025 consensus estimate"},{"amount":"$1.055 billion","context":"prior FY 2025 revenue guidance"},{"amount":"$946 million","context":"reduced expected FY 2025 revenue from fees"},{"amount":"$990 million","context":"prior FY 2025 revenue from fees outlook"},{"amount":"$4.49","context":"stock price drop per share on November 5, 2025"},{"amount":"$41.75","context":"closing share price on November 5, 2025"}]},"model_name":"glm-4.7","prompt_hash":"sha256:2f2748f0fcc8c4f2","schema_hash":"sha256:ad96b863d7123008","created_at":"2026-04-21T19:21:49.476Z","global_importance":3,"audience_relevance":3,"importance_components":{"method":"backfill-heuristic","signals":{"bodyLong":false,"headlineTier1":false,"tickerCovered":false,"hadSignificance":false},"version":1,"computedAt":"2026-04-27T11:52:53.466Z"}},"durationMs":17671,"modelName":"glm-4.7"}}