Pomerantz Law Firm Announces the Filing of a Class Action Against Upstart Holdings, Inc. and Certain Officers – UPST

A class action lawsuit has been filed against Upstart Holdings for alleged securities fraud. The complaint alleges that defendants made false statements about Model 22's accuracy and loan approval rates. The truth emerged on November 4, 2025, when Upstart reported Q3 revenue of $277 million, missing guidance, and revealed that Model 22 had overreacted to macroeconomic signals, reducing approvals. The stock fell 9.71% following the disclosure.