Reuters has reported that ousted LendingClub CEO and co-founder Renaud Laplanche has been speaking to PE firms and banks about a potential buyout of the online lender. The stock climbed in the early trading hours, but talks are certainly still preliminary and may not lead to an offer. The company and its co-founder have said very little since high surprise resignation and a subsequent stock price slide of nearly 40%.
Laplanche has said little since his surprise resignation last month set off a 38 percent slide in LendingClub’s stock. The company, which matches consumers seeking loans with investors willing to fund them, said the exit was prompted by two incidents: Staff had altered application dates on $3 million of loans before their sale, and Laplanche failed to disclose his interests in a fund that LendingClub was considering investing in.