Chinese billionaire Chen Tianqiao's Lending Club's has increased its stake in troubled online lender Lending Club to 15.1%, two days after its founder and CEO Renaud Laplanche was forced out. Chen had previously hinted that he viewed Shanda Group crumbling stock as a buying opportunity and has been investing in the company since March.
Chinese billionaire Chen Tianqiao's Shanda Group has increased its stake in troubled online lender Lending Club to 15.1%, two days after its founder and CEO Renaud Laplanche was forced out. Chen had previously hinted that he viewed Lending Club's crumbling stock as a buying opportunity and has been investing in the company since March.