February 20, 2018 / 9:17 PM / 7 months ago

LendingClub quarterly loss widens due to litigation expense

(Reuters) - LendingClub Corp reported a bigger quarterly loss on Tuesday, compared with a year ago, hurt by a class action litigation settlement expense of $77.25 million.

The online lender reported net loss of $92 million, or 22 cents per share, for the fourth quarter ended Dec. 31, compared with a loss of $32.3 million, or 8 cents per share, a year earlier.

Total revenue rose to $156.5 million from $130.5 million.

Reporting by Nikhil Subba in Bengaluru; Editing by Arun Koyyur

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