Renaud Laplanche, the LendingClub founder who stepped down as its leader in a shakeup last month, sold off part of his stake in the company, according to a regulatory filing.
Laplanche disposed of 1.2 million shares through Morgan Stanley in early June, according the filing dated June 13. That stock had a value of about at $5.3 million at the close of trading on Monday. It represents about 14 percent of the shares Laplanche held on May 6, according to an earlier filing.
A spokesman for Laplanche had no immediate comment Tuesday. A LendingClub spokesman didn't immediately respond to a message seeking comment.
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Laplanche, 45, has said little about his plans since his surprise resignation as chairman and chief executive officer last month set off a 39 percent slide in LendingClub's stock. The company, which matches consumers seeking loans with investors willing to fund them, said the exit was prompted by two incidents: Staff had altered application dates on $3 million of loans before their sale, and Laplanche failed to disclose his interests in a fund that LendingClub was considering investing in.
