Hindenburg alleged that when the Opera browser continued losing users (due to competition from Google and Apple), the company shifted gears to building mobile apps that provided predatory short-term loans. The interest rates on those loans ranged from 365-876% per year, and loan terms from 7-29 days. Opera also falsely advertised longer loan terms and lower interest rates in the app descriptions, because the Google Play Store had rules against predatory lo ... ⌘ Read more
Hindenburg alleged that when the Opera browser continued losing users (due to competition from Google and Apple), the company shifted gears to building mobile apps that provided predatory short-term loans. The interest rates on those loans ranged from 365-876% per year, and loan terms from 7-29 days. Opera also falsely advertised longer loan terms and lower interest rates in the app descriptions, because the Google Play Store had rules against predatory lo ... ⌘ Read more