#United States #New York #Class Action #Securities Fraud #Rocket Companies

Important Update on Rocket Companies Class Action Lawsuit

Levi & Korsinsky, LLP, a prominent law firm specializing in securities litigation, has recently informed investors in Rocket Companies, Inc. (`NYSE: RKT`) about an ongoing class action lawsuit. This case revolves around allegations of securities fraud that affected countless investors during a specific period from March 29, 2021, to April 1, 2021. This article aims to clarify the details surrounding this lawsuit, its implications for investors, and the necessary steps for potential class members to consider.

Background on the Class Action

The lawsuit alleges that Rocket Companies engaged in deceptive practices that misled investors about the company's financial health and operational conditions. Specifically, the allegations include that the company's gain on sale margins were contracting significantly, primarily due to increasing competition among mortgage lenders and a shift towards lower-margin segments. Furthermore, it's claimed that misleading statements were made about the company’s future prospects and operations, particularly during a period of fierce price competition with primary competitors in the wholesale market.

As the complaint outlines, Rocket Companies purportedly concealed critical information which led to inflated stock prices during the class period, causing investor losses when the truth eventually surfaced. This drop in company performance is notably marked, as the lawsuit highlights that gain on sale margins were on track to decline at least 140 basis points within the early months of 2021, reverting to levels not seen since early 2019.

Key Details for Investors

A critical date for affected investors is July 8, 2025, which is the deadline to request to be appointed as a lead plaintiff in this class action lawsuit. This designation allows investors to represent the interests of all class members in the proceedings. However, participating as a lead plaintiff is not a precondition for recovering any potential compensation as a class member.

Investors who incurred losses during the specified time frame and who believe they are eligible to join the lawsuit are urged to take action. Levi & Korsinsky offers a straightforward process for shareholders to seek compensation without any personal financial burden—there are no out-of-pocket costs to join the class action, minimizing the risks typically associated with such legal proceedings.

To facilitate participation, affected investors can contact the firm directly at (212) 363-7500 or reach out via email. Detailed information can also be accessed through their dedicated site, which includes a loss submission form.

Why Levi & Korsinsky?

Levi & Korsinsky has an established reputation for successfully advocating on behalf of shareholders. Over their two decades of experience, the firm has amassed a notable record, securing hundreds of millions of dollars in settlements for investors in complex securities cases. Their team of over 70 dedicated professionals consistently ranks them among the top securities litigation firms in the United States, particularly recognized in ISS Securities Class Action Services' Top 50 Report. This level of expertise positions them well to navigate the intricacies of class action lawsuits, ultimately offering hope for affected Rocket Companies shareholders.

Conclusion

As the July 2025 deadline approaches, Rocket Companies investors should take heed of this significant notice from Levi & Korsinsky. If you believe you were affected by the alleged securities fraud, it is critical to reach out and explore your options. Given the stakes involved, acting promptly could secure your rights as part of this pivotal legal action. Stay vigilant, and make your voice heard in the pursuit of justice and transparency in the markets.

For further details or to start the process, visit Levi & Korsinsky’s official site or contact them directly for assistance. Don't miss the opportunity to stand up for your legitimate claims as part of this class action lawsuit.