Radnor, Pennsylvania, July 17, 2021 (Global News Agency) – The law firm Kessler Topaz Meltzer & Check, LLP announced that it has targeted Rocket Company (NYSE stock code:RKT) (“Rocket”) represents a person who purchases or acquires Rocket Class A common stock February 25, 2021 to May 5, 2021, Included (“Class Hours”).
Deadline reminder: Investors who purchase or acquire Rocket Class A common stock Yes during class, No later than August 30, 2021, Seeking to be appointed as the chief plaintiff representative of the collective. For more information or to learn how to participate in this lawsuit, please contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. (484) 270-1453 or Adrienne Bell, Esq. (484) 270-1435; Toll free (844) 887-9500; Via e-mail [email protected]; or Click on https://www.ktmc.com/rocket-companies-class-action-lawsuit?utm_source=PR&utm_medium=link&utm_campaign=rocket
Rocket is an online mortgage lending institution that operates the Rocket Mortgage online platform, which allows customers to apply for and service mortgage loans via the Internet or using Rocket’s proprietary mobile application. 90% of Rocket’s revenue comes from initiating, closing, selling and providing mortgage loan services. Rocket operates two main parts: (1) the direct-to-consumer part; (2) the partner network part. In its partner network, Rocket works with third parties who use its platform to provide mortgage solutions to customers. The operating profit margin of the partner network is low because Rocket shares profits with its partners.
The course period began on February 25, 2021, when Rocket issued a press release, partly titled “Rocket Company Experiencing Explosive Growth”, which announced Rocket’s financial results for the fourth quarter and full year of 2020. Rocket reported that, among them, the amount of completed loan disbursements was US$107.2 billion…