Opendoor (OPEN) Omissions About Algorithm Securities Complaint

October 7, 2022

Opendoor Technologies, Inc. was formed via a merger to operate a digital platform for flipping residential real estate. Unfortunately, the algorithm it was using to make its offers for homes was not adequate. The complaint for this securities class action alleges that the offering documents filed for the merger “were negligently prepared” and that they contained untrue statements and omissions, so that those who bought the stock experienced losses.