Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Home Point Capital Inc. (HMPT)
BENSALEM, Pa .– (BUSINESS WIRE) – Law Offices of Howard G. Smith reminds investors of the upcoming August 20, 2021 deadline to file lead plaintiffs in the case filed on behalf of investors, Home Point Capital Inc. (“Home Point” or acquired the “Company”) ”) (NASDAQ: HMPT) common stock pursuant to and / or traceable to the Company’s initial public offering in January 2021 (“ IPO ”).
Investors suffering losses on their Home Point investments are advised to contact the Howard G. Smith law firms at 888-638-4847 or email [email protected] to determine their legal rights therein To discuss class action.
In January 2021, Home Point went public, selling 7.25 million common shares for $ 13.00 per share.
On May 28, 2021, Home Point announced financial results for the first quarter of 2021, reporting revenue of $ 324.2 million, missing consensus estimates by $ 41.72 million.
In light of this news, Home Point’s share price fell $ 1.66, or 17.7%, to close at $ 7.72 per share on May 6, 2021, well below its IPO price.
The lawsuit filed alleges that defendants made materially false and / or misleading statements and failed to disclose material adverse facts about the Company’s business, operations and prospects. Specifically, Defendants have failed to disclose to investors that: (1) Home Point’s aggressive expansion of its brokerage partners would dramatically increase the Company’s expenses; (2) due to rising interest rates in 2021, the mortgage industry expected lower profit margins and Home Point would face the same competitive pressures; (3) accordingly, Home Point had overstated its business and financial prospects; and (4) as a result, Defendants’ statements about its business, operations and prospects were materially false and misleading and / or were inadequate at all relevant times.
If you acquired or otherwise acquired, and / or are attributable to, Home Point common stock in accordance with the IPO, you can go to court no later than 20. You do not need to take any action at that time to join the class action; You can hire a lawyer of your choice or you can take no action and remain an absent member of the class action. If you would like to learn more about this class action lawsuit, or if you have any questions about this announcement or your rights or interests in relation to these matters, please contact Howard G. Smith, Esquire, Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by phone at (215) 638-4847, toll free at (888) 638-4847, or by email at [email protected], or visit our website at www.howardsmithlaw .com.
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