Lending Club Gets Subpoena from Justice Deptartment After CEO Exit

(Reuters) – Lending Club said on Monday it received a subpoena from the U.S. Department of Justice last week following the resignation of Chief Executive Renaud Laplanche.

Shares of the online lender fell as much as 9% in after-hours trading on Monday but later pared losses to trade down 1 percent.

Laplanche resigned last week after an internal probe found that the company had knowingly sold an investor $22 million of loans that the investor did not want.

The company, which is by far the...

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