Enova stock plunges 23.4% after withdrawing Grasshopper acquisition applications

  • Kirby McInerney LLP is investigating potential federal securities claims involving Enova.
  • Enova shares fell $53.11, or approximately 23.4%, to $173.61.
  • Enova withdrew OCC and Federal Reserve applications for its proposed Grasshopper acquisition.

Kirby McInerney LLP is investigating potential federal securities-law claims involving Enova International investors after the online lender withdrew regulatory applications tied to its proposed acquisition of Grasshopper Bancorp. Enova announced the $369 million cash-and-stock transaction on Dec. 11, 2025, subject to regulatory approval. On Sept. 14, 2026, the company said it had withdrawn applications submitted to the Office of the Comptroller of the Currency and the Federal Reserve. During its July 2026 earnings call, CEO Steve Cunningham said he was confident in the applications and expected the deal to close later that year. Enova shares fell $53.11, or approximately 23.4%, from $226.72 on Sept. 14 to $173.61 on Sept. 15. No lawsuit has been filed, and Kirby McInerney said its investigation remains ongoing. Separate investigations by Glancy Prongay Wolke & Rotter LLP, the Law Offices of Frank R. Cruz and Wolf Popper LLP have also been announced.

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