Home Point Capital Investors, Inc .: Last Days For

seInvestors with losses are encouraged to contact the company before August 20, 2021; Click on here submit business information

LOS ANGELES, June 28, 2021 (GLOBE NEWSWIRE) – The Portnoy law firm informs investors that a class action lawsuit has been filed on behalf of investors in Home Point Capital, Inc. (NASDAQ: HMPT) who acquired shares as part of its initial public offering on January 21, 2021. Investors have until until August 20, 2021 to seek an active role in this litigation.

Investors are encouraged to contact a lawyer Lesley F. Portnoy, to determine eligibility to participate in this action, by phone at 310-692-8883 or E-mail, or Click here join the case.

Home Point operates as a service provider and originator of residential mortgages. From 2018 to 2020, Home Point Capital undertook an aggressive expansion of its partner broker network. In the process, Home Point increased the network from 1,623 as of December 31, 2018 to nearly 5,000 as of September 30, 2020, for an annualized growth rate of 88%. On January 29, 2021, Home Point went public, issuing to the public 7.25 million common shares of Home Point at an offering price of $ 13.00 per share, which generated proceeds of $ 88,123,750 for selling shareholders before fees and after applicable subscription discounts and commissions.

It is alleged in the Capital reception point class action lawsuit that Home Point’s offering documents made misleading and / or false statements and / or failed to disclose that: (i) Home Point Capital’s aggressive expansion of its broker partners would significantly increase Home’s spending Point; (ii) due to the rise in interest rates in 2021, the mortgage industry expected lower selling profit margins across the industry, with Home Point being subject to the same competitive pressures; (iii) Home Point had consequently overestimated its commercial and financial prospects; and (iv) Home Point’s offer documents were materially misleading and / or false and, therefore, did not indicate the information to be included therein.

Home Point issued a press release on May 6, 2021, announcing Home Point’s financial results for the first quarter of 2021. Home Point reported revenue of $ 324.2 million, among other results, missing 41 , $ 72 million at consensus estimates. Home Point’s share price fell nearly 18% on the news, hurting investors.

A class action has already been filed. If you wish to act as the principal applicant, you must apply to the Court no later than August 20, 2021.

Please visit our website to view more information and submit your transaction information.

The Portnoy law firm represents investors in the pursuit of claims arising from corporate wrongdoing. The company’s founding partner has recovered more than $ 5.5 billion for aggrieved investors. Lawyer advertising. Past results do not guarantee similar results.

Lesley F. Portnoy, Esq.
CA and NY bar admitted
[email protected]

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