Shownotes Transcript
Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $100,000 In Opendoor To Contact Him Directly To Discuss Their Options
New York, New York--(Newsfile Corp. - November 18, 2022) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Opendoor Technologies, Inc. ("Opendoor" or the "Company") (NASDAQ: OPEN) and reminds investors of the December 6, 2022 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
**If you suffered losses exceeding $100,000 investing in (a) Opendoor securities between December 21, 2020 and September 16, 2022, both dates inclusive (the "Class Period"); and/or (b) Opendoor common stock pursuant and/or traceable to the Offering Documents (defined below) issued in connection with the business combination between the Company and Opendoor Labs Inc. ("Legacy Opendoor") completed on or about December 18, 2020 (the "Merger"). **and would like to discuss your legal rights, call Faruqi & Faruqi partner **Josh Wilson directly **at **877-247-4292 **or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/OPEN). )
There is no cost or obligation to you.
Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia.
Opendoor was formerly known as Social Capital Hedosophia Holdings Corp. II ("SCH") and operated as a special purpose acquisition company, also called a blank-check company, which is a development stage company that has no specific business plan or purpose or has indicated its business plan is to engage in a merger or acquisition with an unidentified company or companies, other entity, or person.
On September 15, 2020, the Company, then still operating as SCH, and Legacy Opendoor, a private company operating as a digital platform for residential real estate, announced their entry into a definitive agreement for the Merger (the "Merger Agreement"), which valued Legacy Opendoor at an enterprise value of $4.8 billion.
On October 5, 2020, the Company filed a registration statement on Form S-4 with the United States Securities and Exchange Commission ("SEC") in connection with the Merger, which, after several amendments, was declared effective by the SEC on November 27, 2020 (the "Registration Statement"). On November 30, 2020, the Company filed a proxy statement/prospectus on Form 424B3 with the SEC in connection with the Merger, which formed part of the Registration Statement (the "Proxy" and, together with the Registration Statement, the "Offering Documents").
On December 18, 2020, pursuant to the Merger Agreement, the Company, among other things, deregistered as a Cayman Islands compa
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