LendingClub's fall from grace from rock star status

LendingClub

Not long ago LendingClub was the brightest star in the rapidly-growing world of online lending. Now it’s embroiled in turmoil that is shaking confidence in the emerging industry.

Shares of LendingClub (LC), the world’s largest peer-to-peer lender, plunged 12% to record lows on Tuesday after saying it received a grand jury subpoena from the U.S. Department of Justice. The company has since contacted the Securities and Exchange Commission.

Company news – CNNMoney.com

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