#United States #New York #Class Action #Pomerantz LLP #Rocket Companies

Class Action Lawsuit Against Rocket Companies, Inc.

In a recent announcement, Pomerantz LLP has stated that a class action lawsuit is currently in progress against Rocket Companies, Inc., traded on the NYSE under the ticker RKT. Investors who have incurred losses on their investments are being urged to contact the law firm for assistance.

Overview of the Lawsuit

The lawsuit addresses potential securities fraud and unlawful business practices conducted by Rocket Companies and certain individuals in leadership positions. Specifically, the class action includes all entities and individuals, apart from the defendants, who purchased or acquired securities from Rocket Companies during the class period from March 29, 2021 to April 1, 2021.

Participants in this class action may seek to recover damages resulting from the alleged violations of federal securities laws, pursuing remedies under the Securities Exchange Act of 1934, particularly under Sections 10(b) and 20(a), along with Rule 10b-5.

Upcoming Deadlines

Investors have until July 8, 2025, to request the court appoint them as the Lead Plaintiff if they meet the criteria of having purchased Rocket shares during the specified Class Period. Interested parties can access the Complaint online at Pomerantz Law for detailed information regarding their potential involvement in this class action.

Allegations of Misconduct

The core of the complaint lies in the assertion that the defendants made misleading statements or omitted critical facts regarding the company’s financial health. Allegations include:

• - Gain on Sale Margins: The report claims that Rocket Companies faced a rapid contraction in their gain on sale margins due to increased competition within the mortgage lender sector, leading to alarming trends that were allegedly concealed from investors.
• - Competitive Market Pressures: As the company engaged in a price war to gain market share from competitors, it reportedly faced an unfavorable shift towards its lower-margin Partner Network segment, further putting pressure on profit margins.
• - Misleading Statements: The patterns of decline in gain on sale margins were reportedly accelerating, contradicting earlier claims about sustained favorable market conditions.

This led to assertions that the favorable conditions available to Rocket Companies during the previous periods had subsequently diminished considerably.

About Pomerantz LLP

Pomerantz LLP is recognized as a leading firm in corporate, securities, and antitrust class litigation, with a rich history stretching over 85 years. Founded by Abraham L. Pomerantz—known for pioneering securities class-action lawsuits—the firm has tirelessly advocated for the rights of individuals affected by securities fraud and corporate misconduct. Throughout its history, Pomerantz has achieved significant monetary recoveries for class members, demonstrating its commitment to justice.

Conclusion

For those who invested in Rocket Companies, the unfolding class action lawsuit brings an essential opportunity to seek justice for their financial losses. Interested investors should act swiftly due to upcoming deadlines and are encouraged to reach out to Pomerantz LLP for guidance and support regarding their claims.

Contact Information

For further inquiries, investors can reach out to Danielle Peyton at Pomerantz LLP via email at [email protected] or call 646-581-9980, toll-free at 888-4-POMLAW, Ext. 7980. Including your mailing address, contact number, and the number of shares purchased in your inquiry is advised for effective assistance.