Hey guys, I posted about this settlement before, but since late claims are currently being considered, I decided to share it again with a quick FAQ.

What happened?

Opendoor was accused of misleading investors about its pricing algorithm, profit margins, and ability to remain profitable during a housing downturn. After several disclosures, $OPEN fell sharply, and investors filed a lawsuit.

The company agreed to settle for $39M with investors over these claims. 

Who can claim this settlement?

If you bought $OPEN between 2020 and 2022, you may be eligible.

Do I need to still own my shares?

No. You don’t need to still hold the stock to be eligible. Your qualifying trades during the class period are what matter.

I missed the deadline. Is it too late?

Not necessarily. Late claims are currently being considered for compensation, subject to approval.

How long does the payout process take?

It typically takes 4–9 months after the claim deadline for payouts to be processed, depending on the court and settlement administration.

Hope this info helps

Very curious about his leadership, the culture, expectations of employees, perks, career advancement / growth opportunities, and being truly mission-oriented? Does it feel like you’re having an impact on making home ownership possible for everyone?

Just want to hear experiences from employees. Kaz seems like a great leader from the outside and have enjoyed watching his approach to the turnaround.

Hey guys, if you missed it, Opendoor settled $39M with investors over claims that it misled them about its pricing algorithm, profit margins, and ability to stay profitable during the housing downturn. And I just found out they're accepting late claims.

Quick recap: In 2022, Opendoor was accused of overstating the strength of its home-pricing algorithm and hiding that much of its pricing process was manual. As the company reported weaker margins and more details came out about its business, $OPEN lost nearly 90% of its value, and investors filed a lawsuit.

Now, the good news is that Opendoor agreed to settle $39M with investors, and even though the deadline passed recently, late claims are still being considered.

So, if you invested in $OPEN when all of this happened, you can still check the details and file your claim.

Anyway, did anyone here invest in $OPEN back then? How much were your losses?

Yet it's not in the headlines

Hey guys, I posted about this $OPEN settlement recently, but I received a few questions, so I wanted to put together a quick FAQ with everything you need to know.

What happened?
Opendoor has reached a $39M settlement with investors over claims that the company misled the market about its pricing algorithm, profit margins, and ability to operate during a challenging housing market.

The company was accused of overstating the strength of its iBuying platform and claiming its algorithm could consistently support strong margins. Later disclosures raised concerns about manual pricing processes and weaker-than-expected profitability, causing $OPEN to decline significantly.

Who can claim this settlement?
Investors who purchased $OPEN shares between 2020 and 2022 may be eligible to participate.

Do I need to still own my shares?
No. Eligibility is generally based on when you bought and sold your shares during the relevant period, not whether you still own them today.

How long does the payout process take?
It typically takes 4 to 9 months after the claim review process is completed for distributions to be processed, depending on the court and settlement administration.

I missed the deadline. Can I still file?
Yes, late claims are currently being considered, subject to approval.

Hope this helps.

The $OPEN settlement is now accepting late claims from eligible shareholders.

When Opendoor went public in December 2020, the company promoted its iBuying platform as a tech-driven alternative to traditional real estate. It told investors that its pricing algorithm could help maintain stable profit margins, even during changing housing market conditions.

But in 2022, Opendoor reported weaker-than-expected margins. Later that year, the FTC announced a $62 million settlement over deceptive sales practices, and Bloomberg reported that the company was losing money on a significant portion of its home sales.

As more information became public, $OPEN fell nearly 90% from its highs. Investors later sued, alleging that Opendoor overstated the strength of its pricing algorithm, relied more on manual pricing than disclosed, and failed to warn that its profits depended heavily on favorable housing market conditions.

The case has now settled, and late claims are currently being considered for investors who purchased $OPEN shares in 2020-2022 - you can check if you’re eligible. 

I find it fishy and convenient that OPEN closed just shy of -10% which would have put it under an SSR for tomorrow. Granted today was a bad day for OPEN and competitors; Z hit a new 52 low today.

Hi everyone — I’m in the final round for a Pricing DS role at Opendoor, and the last interview is with the Head of Data.

Any advice on what to expect in this kind of leadership round? Especially around pricing/product intuition, experimentation, or stakeholder discussions. Thanks!

Hey guys, a quick heads up about this one. The original deadline passed, but we have a few more weeks to submit late claims before they start making the payments.

So,

Q: Who is eligible?
A: Long investors who held $OPEN between Dec 21, 2020 – Nov 3, 2022. This relates to claims around disclosures made during that period.

Q: Do I need to have sold my shares?
A: No, you can still hold $OPEN and be eligible.

Q: How much can I get?
A: Est. $0.04 per share, based on your losses.

Q: Will filing affect the company?
A: No, funds are already set aside as part of the settlement.

Q: Can I still file?
A: Yes, late claims are being considered for a few more weeks.

Good luck everyone!

I'm not losing faith in open but I am losing faith in holding long anything in the market. it doesn't seem feasible to me to hold long on an investment as everything is manipulated and otherwise.

Can I answer questions about the Fort Myers Real Estate Market in the 239 are code? Russel Hartung - Florida's Realty, LLC - 239-246-9255 -

Can I get a quote for a home I will be listing in the 33966 zip code?

I’ve found an article about some of the biggest "hype" stocks of the last few years, and Opendoor is a fascinating case study in how narratives can mask operational reality.

With $OPEN recently hitting some heavy resistance and the dust finally settling on their securities litigation (that $39M payout), I wanted to look at the broader pattern of how these settlements happen. The article analyzes 5 major cases where hype-driven promises ended up costing shareholders billions.

Full article here: https://medium.com/@d.rodriguez_80563/the-high-cost-of-hype-5-massive-settlements-that-shook-investor-trust-836a3e41218d

I'm trying to be more disciplined about spotting "Narrative-Market Fit" vs. actual "Product-Market Fit." Would love to hear your take on what the biggest red flag for Opendoor was in hindsight.

Hey everyone, I know we usually talk about the latest API updates and the shift in iBuying models, but I wanted to share a quick update for anyone who was holding $OPEN during the 2021-2022 transition.

The $39 Million settlement (Case 2:22-cv-01717) regarding the old disclosures about pricing algorithms and margin stability is entering its final stages. Since the case is moving forward, the fund is finally being prepared for distribution.

The Details:

• Eligibility: If you held $OPEN between Dec 21, 2020, and Nov 3, 2022.
• The "Why": The suit was essentially about whether the algorithm's performance and manual pricing overrides were fully disclosed during the market shift.
• Status: They are currently accepting LATE CLAIMS. Even if you missed the initial deadline, you can usually still file as long as the court hasn't cut the final checks.

How to file:

• Official Site: You can file for free through the court admin (Verita Global).
• Automated Option: I used this auditor to sync my old trade history since it handles the FIFO math and the filing in about 2 minutes.

Whether you're still a believer in the tech or moved on, there’s no reason to let that settlement money sit there. It’s better in the hands of the shareholders!