LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Home Point Capital Inc. (“Home Point” or “the Company”) (NASDAQ: HMPT) for violations of the federal securities laws.
Investors who purchased the Company's shares pursuant and/or traceable to the Company’s January 29, 2021 initial public offering (the "IPO"), are encouraged to contact the firm before August 20, 2021.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Home Point’s plan to aggressively expand its broker partners would in turn dramatically increase its expenses. The mortgage industry anticipated shrinking gain-on-sale margins due to rising interest rates, resulting in increased competitive pressures on the Company. The Company overstated its business and growth prospects. Based on these facts, the Company’s public statements and offering documents were false and materially misleading throughout the IPO period. When the market learned the truth about Home Point, investors suffered damages.
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The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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