DEADLINE TODAY: The Schall Law Firm Reminds Investors of a Class Action Lawsuit Against Rocket Companies, Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm

Sep 16, 2021 10:33 AM ET

Legal Newswire POWERED BY LAW.COM

 The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Rocket Companies, Inc. for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.


Investors who purchased the Company's securities between February 25, 2021 and May 5, 2021, inclusive (the ''Class Period''), are encouraged to contact the firm before August 30, 2021.


We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected]schallfirm.com.


The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.


According to the Complaint, the Company made false and misleading statements to the market. Rocket suffered from the highest contract rates in two years based on increased competition with other mortgage lenders amongst other factors. The Company was engaged in a price war with its rivals which further eroded margins. These adverse trends were accelerating throughout the first six months of 2021. In fact, the Company's gain-on-sale margins had fallen below recent averages. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Rocket, investors suffered damages.


CONTACT:


The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com 
Office: 310-301-3335
[email protected] 


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