The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Eastern District of Michigan on behalf of investors who purchased Home Point Capital Inc. (NASDAQ: HMPT) pursuant and/or traceable to the Company’s January 29, 2021 initial public offering.
According to the Home Point lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (i) Home Point’s aggressive expansion of its broker partners would dramatically increase the Company’s expenses; (ii) the mortgage industry was anticipating industry-wide decreased gain-on-sale margins as a result of rising interest rates in 2021 and Home Point would be subject to the same competitive pressures; (iii) accordingly, the Company had overstated its business and financial prospects; and (iv) as a result, the Offering Documents were materially false and/or misleading and failed to state information required to be stated therein.
If you suffered a loss in Home Point you have until August 20, 2021 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn\'t require that you serve as a lead plaintiff.
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