- August 28, 2021
- Posted by: Mainframe Consulting
- Category: Business Wire
ROCKET COMPANIES 72 HOUR DEADLINE ALERT: Former Louisiana Attorney General and Kahn Swick & Foti, LLC Remind Investors With Losses in Excess of $100,000 of Deadline in Class Action Lawsuit Against Rocket Companies, Inc. – RKT
NEW ORLEANS–(BUSINESS WIRE)–Kahn Swick & Foti, LLC (“KSF”) and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have only until August 30, 2021 to file lead plaintiff applications in a securities class action lawsuit against Rocket Companies, Inc. (NYSE: RKT), if they purchased the Company’s shares between February 25, 2021 and May 5, 2021, inclusive (the “Class Period”). This action is pending in the United States District Court for the Eastern District of Michigan.
What You May Do
If you purchased shares of Rocket Companies and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (email@example.com), or visit https://www.ksfcounsel.com/cases/nyse-rkt/ to learn more. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by August 30, 2021.
About the Lawsuit
Rocket Companies and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On May 5, 2021, the Company disclosed disappointing financial news, including closed loan volume within a range of only $82.5 to $87.5 billion and gain on sale margins within a range of only 2.65% to 2.95% for the second quarter of 2021, due to certain market trends that began in part “at the end of Q1.” On this news, shares of Rocket Companies plummeted nearly 17% to close at $19.01 per share.
The case is Qaiyum v. Rocket Companies, Inc., No. 21-cv-11528.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
Published at Sat, 28 Aug 2021 02:50:00 +0000