Top Stories | Lending Club CEO Exits, Uber & Lyft to Leave Austin After Losing Legal Battle, Captain America Is A Box Office Hit
14m
Shares of Lending Club dropped more than 24 percent in morning trading on Monday after the company’s co-founder Renaud Laplanche resigned as chairman and CEO. His resignation followed an internal review of sales of $22 million in near-prime loans to a single investor. The review revealed loans extended to one investor did not conform with company policies. After losing a legal battle in Austin, ride-sharing services Uber and Lyft will halt operations in the Texas tech hub. Voters in the Lone Star State failed to pass legislation that would have allowed the companies greater self-regulation. Fearing a similar dispute in other cities, Uber and Lyft stated the new rules that required background checks for their drivers make it difficult to continue their current business models. In advance of Disney earnings on Tuesday, the latest film in the Disney-owned marvel franchise, Captain America: Civil War, already grossed about $182 million according to estimates, making it the fifth biggest box office opening ever.