Sign In
HMPT.US
id: 827

Home Point (HMPT) $5M IPO Shareholder Settlement

It is still possible to file a late claim. The court will decide whether to accept late claims or not.
E.D. Michigan
Court
4:21-cv-11457
Case number
29 Jan 2021
Class period Start
21 Jun 2021
Class period End
15 Apr 2024
Claim deadline
Home Point agreed to pay $5 million to shareholders to resolve claims that $HMPT exaggerated its ability to keep its costs low ahead of the IPO in early 2021.

Who is eligible to get a payout?

All persons and entities that purchased or otherwise acquired Home Point Inc. common stock in the Company’s January 29, 2021 Initial Public Offering (“IPO”) or purchased Home Point common stock after the IPO and on or before June 21, 2021 in the stock market pursuant and/or traceable to the Company’s Offering Documents issued in connection with the IPO, and were allegedly damaged thereby.

Do you need to sell your securities to be eligible?

No, if you have purchased them within the class period, you are eligible to participate.

How long does the payout process take?

The entire process usually takes 4 to 9 months after the claim deadline. But the exact timing depends on the court and settlement administration.
Case Status
Accepting Late Claims
Alleged Offence
Misleading Statements
Financial Misrepresentation
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Investment Bank
Service Provider
Security Type
Stocks
Trade Direction
Long
Payout per Share
0.29
Filing date
21 June 2021
Plaintiffs
Abdulaziz Jamal Johar Al-Johar
Attorneys
Robbins Geller Rudman & Dowd LLP (New York, NY), VanOverbeke Michaud & Timmony, P.C. (Detroit, MI)
Defendants
William A. Newman, Mark E. Elbaum, Agha S. Khan, Steven A. Levey, Eric L. Rosenzweig, Andrew J. Bon Salle, Laurie S. Goodman, Timothy R. Morse
Judge
Hon. Laurie J. Michelson
Administrator
Gilardi & Co LLC
Settlement agreement date
2023-09-15
Court hearing date
14 May 2024
Exclusion deadline
23 April 2024
Objection deadline
23 April 2024
Trades matching type
FIFO
+$5,000,000
Cash Settlement Amount

Home Point Capital Inc

Home Point Capital Inc., together with its subsidiaries, operates as a residential mortgage originator and service provider. It operates through two segments, Origination and Servicing. The Origina...

    Ticker
    HMPT.US
    ISIN
    US43734L1061
    CIK
    1830197
    Sector
    Financial Services
    Industry
    Mortgage Finance
    Country
    USA
    Address
    2211 Old Earhart Road, Ann Arbor, MI, United States, 48105