Opendoor Securities Settlement

IN RE OPENDOOR TECHNOLOGIES INC SECURITIES LITIGATION

Case No. 2:22-CV-01717-MTL

United States District Court

District of Arizona

This website has been established to provide general information regarding the proposed settlement ("Settlement") of the class action (the "Action") known as In re Opendoor Technologies Inc. Sec. Litig., No. 2:22-CV-01717-MTL. The Court in charge of the Action is the United States District Court for the District of Arizona. Capitalized terms used on this website and not otherwise defined shall have the same meanings ascribed to them in the Stipulation and Agreement of Settlement, dated June 13, 2025 (the "Stipulation").

Please be advised that your rights may be affected by the proceedings in the Action if you are a member of the Settlement Class, which includes the following:

(i) all persons and entities who or which purchased or otherwise acquired Opendoor common stock pursuant and/or traceable to the de-SPAC Merger Documents issued in connection with the de-SPAC Merger on or about December 21, 2020, and/or the February 2021 Offering Documents issued in connection with Opendoor’s February 2021; and

(ii) all persons and entities who or which, during the period from December 21, 2020 through November 3, 2022, inclusive (the Class Period), purchased the publicly traded common stock of Opendoor on the NASDAQ or any U.S.-based trading platform and were damaged thereby. 

The Complaint filed in the Action alleges that Defendants made materially false and misleading statements and omissions with respect to Opendoor’s proprietary AI-powered pricing algorithm and its ability to dynamically adjust to changing market conditions, including in the Offering Documents issued in connection with the de-SPAC Merger on or about December 21, 2020, and the Offering Documents issued in connection with Opendoor’s February 2021 Offering on or about February 4, 2021. The Complaint further alleged that the price of Opendoor common stock trading on the NASDAQ and other U.S.-based trading platforms was artificially inflated as a result of Defendants’ allegedly false and misleading statements and omissions and declined when the truth was allegedly revealed through a series of partial corrective disclosures. Defendants have denied and continue to deny any and all allegations of wrongdoing or fault asserted in the Action. 

The Court did not finally decide in favor of Plaintiffs or the Defendants.  Instead, both sides agreed to a settlement.  Plaintiffs and Lead Counsel believe that the claims asserted in the Action have merit.  They recognize, however, the expense and length of continued proceedings needed to pursue the claims through trial and appeals, as well as the difficulties in establishing liability and damages. In light of the guaranteed cash recovery to the Settlement Class, Plaintiffs and Lead Counsel believe that the proposed Settlement is fair, reasonable, and adequate, and in the best interests of the Settlement Class.

Although the information on this website is intended to assist you, it does not replace the information contained in the Notice and the Stipulation. Please read the Notice carefully to fully understand your rights. 

Please do not call the Court with questions about the Settlement. All questions should be directed to Lead Counsel or the Claims Administrator. 

The information on this website, including the dates and deadlines set forth below, is subject to change.  Please continue to check this website for updates.