Email Text -- Good thing I already have a brokerage account through Fido. Clicked the button in the email and it indeed had me log in and took me to the settings page, but some sort of positive confirmation would have been nice.
Lending Club IPO - Directed Share Program (DSP)
Dear Investor,
As you may know, Lending Club filed a registration statement with the Securities and Exchange Commission to sell common stock through an initial public offering (IPO). We currently expect to reserve a portion of our IPO shares for investors like you through a directed share program (DSP) administered by Fidelity Investments ("Fidelity"). To be eligible to participate, you'll need to open a brokerage account with Fidelity and meet certain suitability requirements.
In order for Fidelity to provide information regarding the procedures of the DSP to you, we need your authorization to share your contact information with Fidelity. By clicking "yes" you authorize us to share the name, email address, and phone number associated with your Lending Club account with Fidelity. Please ensure that your contact information is current and accurate in your Lending Club account. If you do not respond, you will not be contacted.
Confirm Your Email Address
Clicking this button will take you to the Settings section of your account, which will confirm your authorization that we share your contact information with Fidelity.
We are unfortunately unable to answer questions about the IPO, including share price, minimum and maximum DSP investment levels, or other details about the DSP at this time.
This email does not constitute an offer to purchase Lending Club stock - any offer to purchase Lending Club stock will be made solely by the underwriters pursuant to a prospectus. Whether or not an IPO occurs depends on many things including market conditions. Responding to this notice does not obligate you to participate in the DSP, nor is Lending Club obligated to offer DSP shares or ensure that you will receive DSP shares.
Please respond no later than 12:00 p.m. noon (PT) on Sunday November 23, 2014. IF YOU DO NOT RESPOND TO US BY 12:00 p.m. noon (PT) on Sunday November 23, 2014, WE WILL NOT SHARE YOUR INFORMATION WITH FIDELITY AND YOU WILL NOT BE ELIGIBLE TO PARTICIPATE IN THE DSP.
A Registration Statement relating to Lending Club's common stock has been filed with the Securities and Exchange Commission but has not yet become effective. The shares may not be sold nor may offers to buy be accepted prior to the time the Registration Statement becomes effective. This letter shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the shares in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State.
No offer to buy the securities can be accepted and no part of the purchase price can be received until the registration statement has become effective, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time prior to notice of its acceptance given after the effective date. A response to this email will involve no obligation or commitment of any kind.
Best regards,
The Lending Club Team
Just got the email and clicked the button to participate. it directed me to my login. i logged in and it went on my account settings page but there was never anything that indicated that I "confirm your authorization that we share your contact information with Fidelity."
... is there anything else i have to do...?
Same for me. I do not think we have to do anything else.
I agree some sort of acknowledgement would have been nice.
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I'm a Fidelity customer because it used to be the only 2% cash back card
I did not see the LC IPO email from Lending Club in my inbox for the email address I use for my main LC account. So I decided to check the email for my Roth LC account (different email address) and the IPO email was there. I hardly check this email. So when I click on the link in the IPO email, it takes me to a LC sign-in page with my main LC account email address (not the Roth LC email address) and so I signed in with the main LC email address. Kinda confusing. I do have a Fidelity account, mostly to take advantage of the 2% cashback Fidelity Amex.
You know, I've been thinking about this silly link redirect thing... Really, how hard would it be to have a message saying "Thanks, we're now sharing your junk with Fidelity. Hope you meant to do this because it's not reversible. Also we hope you're a human and the link was not clicked by a link pre-fetcher or spam filter." That is really not hard.
This is just odd the way they did this. Last time I saw crap like that was when the marketing department at a company I worked for went off and did their own thing with a portion of the site and didn't want to involve the programming department nor anyone else for that matter. So they ended up kludging things together with tools that were not designed for the purpose. That's what this stunt looks like to me.
Wow, I'd have bet (& lost) serious money this morning if someone had said then that 7-8 hours would pass without at least 1 person saying that they didn't get a notification email................because I suspect it wasn't sent out to everyone.