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The Gross Law Firm Reminds Rocket Companies, Inc. Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of July 8, 2025 - RKT
Rocket CompaniesRocket Companies(US:RKT) Prnewswireยท2025-06-26 13:00

Core Viewpoint - The Gross Law Firm is notifying 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 for the lawsuit is from 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 unfavorable shifts in operational segments [2]. - It is claimed that Rocket was engaged in a price war, further compressing margins in its Partner Network segment [2]. - The adverse trends were reportedly accelerating, with gain on sale margins expected to drop 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 margins to levels not seen since Q1 2019 [2]. - Overall, the defendants' positive statements about 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]. Law Firm's Mission - The Gross Law Firm aims to protect investors' rights and ensure companies adhere to responsible business practices [4]. - The firm seeks recovery for investors who suffered losses due to misleading statements or omissions that led to artificial inflation of stock prices [4].