A mortgage lender’s rocket hit Michigan investment.



Law360 (Jul 1, 2021, 6:35 pm ET) – Internet mortgage lender Rocket Companies Inc. was attacked by a proposed class action lawsuit in Detroit’s federal court accusing the company of misleading investors about a key indicator of the company’s financial performance. after the initial public offering in August 2020.

In a complaint filed on Tuesday, investor Zoya Kayum accused the company of not disclosing that a number of factors influenced the company’s so-called sales profit, which Kayum said investors use to measure Rocket’s profitability.

Qaiyum claims that in May, when the company announced that it was down 239 basis points year on year, trading …

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