Rocket Companies(US:RKT) Prnewswireยท2025-07-07 13:00Core 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 Relevant Sections Allegations - The complaint alleges that during the class period from March 29, 2021, to April 1, 2021, 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 segments [2]. - It is claimed that Rocket was engaged in a price war with competitors, further compressing margins in its Partner Network operating segment [2]. - The adverse trends were reportedly accelerating, with gain on sale margins expected to plummet by at least 140 basis points in the first half of 2021 [2]. - The favorable market conditions that had previously allowed Rocket to achieve high gain on sale margins had disappeared, returning to levels not seen since Q1 2019 [2]. - Company-wide gain-on-sale margins had fallen materially below recent historical averages, contradicting earlier positive statements made by the defendants [2]. Next Steps for Shareholders - Shareholders who purchased shares of RKT during the specified timeframe are encouraged to register for the class action by July 8, 2025, to potentially be appointed as lead plaintiffs [3]. - Registered shareholders will receive updates through a portfolio monitoring software throughout the lifecycle of the case [3]. Law Firm Background - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting the rights of investors who have suffered losses due to deceitful practices [4].