SAN DIEGO & WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Shareholder rights law firm Robbins LLP reminds shareholders that it is investigating Velocity Financial, Inc. (NYSE: VEL) for potential material misstatements and violations of federal securities laws pursuant to its January 2020 initial public offering ("IPO"). Velocity offered 7,250,000 shares at $13 per share and raised $100.7 million in gross proceeds. Since its IPO, Velocity's stock has precipitously declined and by May 12, 2020, shares of Velocity closed at only $3.00 per share, representing a staggering decline of approximately 77% from its IPO share price.
If you purchased shares of Velocity stock in its January 2020 IPO at $13 per share, click here.
Velocity Financial, Inc. (VEL) Shareholders Have Legal Options
Contact us to learn more:
Leo Kandinov
(800) 350-6003
LKandinov@robbinsllp.com
Shareholder Information Form
Robbins LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. Click here to receive free alerts from Stock Watch when companies engage in wrongdoing.
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