Case Updates |
10/20/26
Related Case: Enova International Investigation
Wolf Popper LLP is continuing its investigation into potential claims on behalf of purchasers of Enova International, Inc. (“ENVA”) common stock (NYSE: ENVA).
Enova is an online lender providing consumer and small-business credit. On December 11, 2025, Enova announced that subject to regulatory approval it would acquire Grasshopper Bancorp, Inc. in a $369 million cash and stock deal.
During Enova’s second quarter 2026 earnings call on July 23, 2026, Enova’s CEO Steve Cunningham said “Yeah I have a lot of respect for the agencies in the process that they follow. But as I said on the call, I think we remain in a constructive dialogue with both of the agencies as they're going through that process. And so I don't think there's a lot of additional color to provide beyond that. We've pointed to the second half of the year since the beginning. We're three weeks into the second half of the year. I have a lot of confidence in our application. I have a lot of confidence in the process and I look forward to closing later this year.”
After the market closed on September 14, 2026, Enova surprised investors when it disclosed that it had withdrawn its applications with the Office of the Comptroller of the Currency and Board of Governors of the Federal Reserve System related to the proposed Grasshopper acquisition. In the press release, Enova’s CEO said “Regulators do not have clear standards for nonbanks that want to become banks and that serve customers whose credit needs today are met mostly outside of the banking system. Without clearly articulated standards, the process is susceptible to political pressure and outside advocacy, rather than being guided strictly by the statutory factors that should govern it.”
On that news, Enova’s stock price fell $53.11 per share to $173.61 on September 15, 2026, down 23.4% on very heavy volume.
Investors who suffered losses trading in Enova common stock and who would like to discuss the investigation should contact Adam Savett at (212) 451-9655, or asavett@wolfpopper.com.