Opportunity for Investors With Substantial Losses to Lead the Home Point Capital Inc. Class Action Lawsuit – HMPT

SAN DIEGO, July 02, 2021 – (BUSINESS WIRE) – Robbins Geller Rudman & Dowd LLP announces that purchasers of Home Point Capital Inc. (NASDAQ: HMPT) have acquired common stock from Home Point Capital and / or traceable to an initial public offering (“IPO”) has until August 20, 2021 to apply for lead plaintiff in Home Point Capital’s class action lawsuit. The case is entitled Windemuth v. Home Point Capital Inc., No. 21-cv-11457, and is assigned to Judge Laurie J. Michelson of the Eastern District of Michigan. Home Point Capital’s class action lawsuit accuses Home Point Capital and some of its officers and directors of violating the Securities Act of 1933.

If you would like to stand as the lead plaintiff in the Home Point Capital class action or if you have any questions about your rights in relation to the Home Point Capital class action, please visit our website by clicking here or contact JC Sanchez of Robbins Geller at 800/449 -4900 or 619 / 231-1058 or by email to [email protected]. Lead plaintiffs’ class action lawsuit against Home Point Capital must be filed with the court no later than August 20, 2021.

CASE ALLEGES: Home Point Capital’s class action lawsuit alleges that Home Point Capital’s offering documents made false and / or misleading statements and / or failed to disclose that: (i) Home Point Capital’s aggressive expansion of its brokerage partners has dramatically driven Home Point Capital’s business would increase costs; (ii) the mortgage industry expected lower profit margins across the industry due to rising interest rates in 2021 and home point capital would face the same competitive pressures; (iii) accordingly, Home Point Capital had overestimated its business and financial prospects; and (iv) as a result, Home Point Capital’s offer documents were materially false and / or misleading and did not contain any information required to be disclosed therein.

On May 6, 2021, Home Point Capital published a press release announcing Home Point Capital’s financial results for the first quarter of 2021. Among other things, Home Point Capital reported revenues of $ 324.2 million and missed consensus estimates by $ 41.72 million. Because of this news, Home Point Capital’s share price fell nearly 18%, which hurt investors.

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LEAD APPLICATION: The Private Securities Litigation Reform Act of 1995 allows any investor who has acquired and / or is traceable to Home Point Capital’s common stock pursuant to Home Point Capital’s initial public offering to be named as the lead plaintiff in Home Point Capital’s class action apply for. A lead plaintiff is usually the applicant with the greatest financial interest in the legal protection sought by the alleged class, which is also typical and appropriate for the alleged class. One lead plaintiff is acting on behalf of all of the other class plaintiffs in directing the Home Point Capital class action. The lead plaintiff can select a law firm of their choice to bring Home Point Capital’s class action lawsuit. An investor’s ability to participate in a possible future collection of Home Point Capital’s class action lawsuit does not depend on being the lead plaintiff.

ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: With 200 attorneys in 9 offices across the country, Robbins Geller Rudman & Dowd LLP is the largest US law firm serving investors in securities class actions. Robbins Geller’s attorneys have secured many of the largest shareholder recoveries in history, including the largest securities class action of all time – $ 7.2 billion – in In re Enron Corp. Sec. Lit. The 2020 ISS Securities Class Action Services Top 50 Report ranked Robbins Geller first for getting $ 1.6 billion back for investors last year, more than double the amount paid by any other securities plaintiff firm was drafted. More information is available at http://www.rgrdlaw.com.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20210702005026/en/

contacts

Robbins Geller Rudman & Dowd LLP
655 W. Broadway, San Diego, CA 92101 • 619-231-1058
JC Sanchez, 800-449-4900
[email protected]

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