Here’s What You Should Know about These Five Trending Stocks

Facebook Wins Trademark Case in China

Facebook Inc (NASDAQ:FB) has won its trademark battle in China after a Beijing court ruled against a Chinese beverage company which had registered the trademark “face book” in 2011 and in 2014 got the approval to use the trademark despite the objections from Facebook. The Beijing Municipal High People’s Court said that registering “face book” was an obvious act of copying. Facebook is banned in China, but the company’s CEO, Mark Zuckerberg, is trying hard to get the social media service opened in China.

As of the end of March, Columbus Circle Investors owns more than 2.8 million shares of Facebook Inc (NASDAQ:FB). Overall, at the end of the last year, 146 funds from our database held around $10 billion worth of the company’s stock, up from 128 investors a quarter earlier.

LendingClub Board’s CEO Departs Following Violation of Company Policies

LendingClub Corp (NYSE:LC)’s stock plunged more than 22% this morning after the company announced that its CEO, Renaud Laplanche, has resigned after the board found that he violated company’s business practices after an internal investigation. The internal review revealed that near-prime loans of $22 million were extended to one investor, who had provided instructions against such actions.  Three senior managers were also ousted following the investigation. President Scott Sanborn will take over as the acting CEO of the San Francisco-based online lending company. In a statement, the company said that the effect of the $22 million loans was minor, but the violation of business practices and lack of disclosure was unacceptable to the board.

Among the funds we track, 18 held shares of LendingClub Corp (NYSE:LC) at the end of 2015. As of March, Alexander Tamas’s VY Capital reported holding 4.4 million shares.

Disclosure: None