Financial News
HOME POINT DEADLINE ALERT
Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In Home Point To Contact Him Directly To Discuss Their Options
NEW YORK - (NewMediaWire) - August 11, 2021 - Faruqi & Faruqi, LLP, a
leading national securities law firm, is investigating potential claims against
Home Point Capital Inc. (“Home Point” or the “Company”) (NASDAQ:HMPT) and
reminds investors of the August 20, 2021 deadline to seek the role of lead plaintiff
in a federal securities class action that has been filed against the Company.
If you suffered losses exceeding $50,000 investing in Home Point stock or options between January 29, 2021 and May 6, 2021 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/HMPT.
There is no cost or obligation to you.
As detailed below, the lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Home Point’s aggressive expansion of its broker partners would dramatically increase the Company’s expenses; (2) the mortgage industry was anticipating industry-wide decreased gain-on-sale margins as a result of rising interest rates in 2021 and Home Point would be subject to the same competitive pressures; (3) accordingly, the Company had overstated its business and financial prospects; and (4) as a result, the Offering Documents were materially false and/or misleading and failed to state information required to be stated therein.
On May 6, 2021, Home Point issued a press release announcing the Company’s financial results for the first quarter of 2021. Among other results, Home Point reported revenue of $324.2 million, missing consensus estimates by $41.72 million.
On this news, Home Point’s stock price fell $1.66 per share, or 17.7%, to close at $7.72 per share on May 6, 2021.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Home Point’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Attorney Advertising. The law
firm responsible for this advertisement is Faruqi & Faruqi, LLP
(www.faruqilaw.com). Prior results do not guarantee or predict a similar
outcome with respect to any future matter. We welcome the opportunity to
discuss your particular case. All communications will be treated in a confidential
manner.
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.