Top entities: Upstart Holdings, The Schall Law Firm, Brian Schall, United States — United States Securities and Exchange Commission.

What category does this event fall under?

Regulatory — classified as class action lawsuit.

What is the sentiment of coverage?

Aggregate sentiment score: -50 on a -100 to +100 scale (negative = critical coverage, positive = favorable coverage).

What were the key actions taken?

The Schall Law Firm filed class action lawsuit Upstart Holdings · Upstart Holdings blamed Model 22

Is this event still developing?

This is an active story, last updated May 28, 2026. Coverage continues to evolve.

Regulatory class action lawsuit

Upstart Holdings faces securities fraud lawsuit

Q: When did this event occur?

First reported May 19, 2026; last updated May 28, 2026.

Q: What is the market impact?

Direct. The class action lawsuit against Upstart Holdings, Inc.

Analysis based on 8 articles · First reported May 19, 2026 · Last updated May 28, 2026

Sentiment

-50

Attention

Articles

Market Impact

Direct

Live prominence charts, article sentiment distribution, and event development timeline available on the Ergen Dashboard

Market Impact

The class action lawsuit against Upstart Holdings, Inc. could negatively impact its stock price and investor confidence due to allegations of false and misleading statements. Investors who purchased shares during the Class Period may suffer losses, while The The Schall Law Firm stands to gain from successful litigation.

Financial Services Technology

Event Summary

The The Schall Law Firm has initiated a class action lawsuit against Upstart Holdings, Inc. (NASDAQ: UPST) on behalf of investors who purchased securities between May 14, 2025, and November 4, 2025. The lawsuit alleges that Upstart Holdings made false and misleading statements regarding the performance and accuracy of its 'Model 22' AI, which reportedly reacted poorly to macroeconomic signals and negatively impacted the company's business. Investors are encouraged to contact Brian Schall of The The Schall Law Firm to participate in the lawsuit before June 8, 2026, to recover damages suffered due to these alleged misrepresentations. The case is filed under violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated by the United States — United States Securities and Exchange Commission.

Key Actions

100 The Schall Law Firm filed class action lawsuit Upstart Holdings

90 Upstart Holdings blamed Model 22

Entities Involved

stock

Upstart Holdings

Upstart Holdings, Inc. is the defendant in a class action lawsuit alleging false and misleading statements regarding its AI model's performance, which could lead to financial damages and reputational harm.

Importance 100 Sentiment -70

priv

The Schall Law Firm

The The Schall Law Firm is initiating and representing investors in a class action lawsuit against Upstart Holdings, Inc., seeking to recover losses for shareholders.

Importance 80 Sentiment 50

per

Brian Schall

Brian Schall is an attorney at The The Schall Law Firm, encouraging investors to join the class action lawsuit against Upstart Holdings, Inc.

Importance 60 Sentiment 40

govactor

United States — United States Securities and Exchange Commission

The United States — United States Securities and Exchange Commission promulgated the rules under which the class action lawsuit against Upstart Holdings, Inc. is being filed.

Importance 20 Sentiment 0

NEWSDESK

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