Rocket Companies(US:RKT) Prnewswire·2025-06-17 09:45Core Viewpoint - A class action securities lawsuit has been filed against Rocket Companies, Inc. due to alleged securities fraud affecting investors between March 29, 2021, and April 1, 2021 [1][2]. Case Details - The lawsuit claims that Rocket Companies made false statements regarding its financial performance, specifically 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 engaged in a price war in the wholesale market, further compressing margins [2]. - 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]. - Favorable market conditions that previously allowed for high gain on sale margins had disappeared, returning to levels not seen since Q1 2019 [2]. - Company-wide gain-on-sale margins had fallen significantly below recent historical averages [2]. - Positive statements made by the defendants regarding the company's operations were misleading and lacked a reasonable basis [2]. Next Steps - Investors who suffered losses during the specified timeframe have until July 8, 2025, to request appointment as lead plaintiff, although participation in any recovery does not require this [3]. Why Levi & Korsinsky - Levi & Korsinsky has a strong track record in securities litigation, having secured hundreds of millions for shareholders and being recognized as one of the top securities litigation firms in the U.S. for seven consecutive years [4].