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LendingClub delays Form 10-Q filing

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LendingClub delays Form 10-Q filing

LendingClubCorp. notified the SEC of a delay in the filing of its Form 10-Qfor the three months ended March 31.

In a Form 12b-25, the company saidin light of the timing of the internal board review and change in seniormanagement following the resignation of Renaud Laplanche as chairman and CEO, thecompany is unable to complete the review of the quarterly report and relatedmatters. The company said it was not able to provide the managementcertifications needed to support the review or required to accompany thequarterly report, in a timely manner.

LendingClub plans to file the Form 10-Q on or prior to May16.

Laplanche resigned following an internalinvestigation into certain loan sales. Scott Sanborn has been named thecompany's acting CEO, in addition to retaining his role as president.