Rocket Companies Stock: Berger Montague Investigates Securities Fraud Allegations Against Rocket Companies, Inc. (RKT); Lead Plaintiff Deadline is August 30, 2021

Philadelphia, Pennsylvania--(Newsfile Corp. - July 7, 2021) - Berger Montague is investigating securities fraud allegations against Rocket Companies, Inc. ("Rocket" or the "Company"). The Firm is investigating these claims on behalf of investors who purchased Rocket securities (NYSE: RKT) between February 25, 2021 and May 5, 2021 (the "Class Period").

If you purchased Rocket securities during the Class Period, would like to discuss Berger Montague's investigation, or have questions concerning your rights or interests, please contact attorneys Andrew Abramowitz at aabramowitz@bm.net or (215) 875-3015, or Donnell Much at dmuch@bm.net or (215) 875-4667, or fill out the form on www.bergermontague.com/rocket.

Whistleblowers: Anyone with non-public information regarding Rocket Companies is encouraged to confidentially assist Berger Montague's investigation or take advantage of the SEC Whistleblower program. Under this program, whistleblowers who provide original information may receive rewards totaling up to thirty percent (30%) of recoveries obtained by the SEC. For more information, contact us.

Rocket is an online mortgage lender that operates the Rocket Mortgage online platform, which allows clients to apply for and service mortgages through the Internet or by using Rocket's proprietary mobile phone app.

On May 5, 2021, Rocket announced first quarter 2021 financial results and second quarter 2021 outlook in a press release, reporting that it expected closed loan volume within a range of only $82.5 billion and $87.5 billion and gain-on-sale margins within a range of only 2.65% to 2.95% for the second quarter of 2021. The midpoint of this gain on sale margin estimate represented a 239 basis point decline year-over-year and a 94 basis point decline sequentially, Rocket's lowest quarterly gain on sale margin in two years. This information reflected that favorable market conditions recently touted by the Company had in fact reversed.

On this news, the price of Rocket Class A common stock fell by nearly 17% to close at $19.01 per share on May 6, 2021.

Berger Montague, with offices in Philadelphia, Minneapolis, Washington, D.C., and San Diego, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.

Contacts

Andrew Abramowitz, Senior Counsel
Berger Montague
(215) 875-3015
aabramowitz@bm.net

Donnell Much, Associate
Berger Montague
(215) 875-4667
dmuch@bm.net

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/89658