LendingClub abruptly adjourned its annual shareholder meeting Tuesday, saying it wasn't ready to address investors after a leadership shakeup last month. It also overhauled criteria for the consumer loans it arranges online.

The company's stock halted amid the announcements, then dropped 5 percent to $4.50 as of 2:33 p.m. in New York. It's down 59 percent this year, with much of the decline tied to founder Renaud Laplanche's surprise resignation as chief executive officer and chairman a month ago.

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