Rocket Companies(US:RKT) Prnewswire·2025-05-22 09:45Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Rocket Companies, Inc. regarding a class action lawsuit due to alleged misleading statements and failure to disclose critical financial information during a specified class period [1][2]. Summary by Sections Class Period and Allegations - The class period is defined as March 29, 2021, to April 1, 2021 [2]. - Allegations include that Rocket's gain on sale margins were contracting at the highest rate in two years due to increased competition among mortgage lenders and a shift towards lower-margin operations [2]. - The company was reportedly engaged in a price war, further compressing margins in its Partner Network segment [2]. - It is claimed that adverse trends were accelerating, with gain on sale margins expected to drop by at least 140 basis points in the first half of 2021 [2]. - The favorable market conditions that previously allowed Rocket to achieve high gain on sale margins had disappeared, returning to levels not seen since Q1 2019 [2]. - Overall, the positive statements made by the defendants regarding the company's operations were deemed materially misleading [2]. Next Steps for Shareholders - Shareholders are encouraged to register for the class action by July 8, 2025, to participate in the case [3]. - Once registered, shareholders will receive updates through a portfolio monitoring software [3]. - There is no cost or obligation for shareholders to participate in the case [3]. About the Gross Law Firm - The Gross Law Firm is a nationally recognized class action law firm focused on protecting investors' rights against deceit and illegal business practices [4]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements [4].