According to the lawsuit, the Registration Statement featured false and/or misleading statements and/or failed to disclose that:
- the Company’s refinance originations had already declined substantially at the time of the IPO due to industry over-capacity and increased competition;
- the Company’s gain-on-sale margins had already declined substantially at the time of the IPO;
- as a result, the Company’s revenue and growth would be negatively impacted; and
- as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
Attorney Advertising. Prior results do not guarantee a similar outcome.