Levi & Korsinsky, LLP
CLASS ACTION UPDATE for CCIV, SRAC and RKT: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders
NEW YORK, NY / ACCESSWIRE / July 16, 2021 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court. Further details about the cases can be found at the links provided. There is no cost or obligation to you.
CCIV Shareholders Click Here: https://www.zlk.com/pslra-1/churchill-capital-corp-iv-information-request-form?prid=17725&wire=1
SRAC Shareholders Click Here: https://www.zlk.com/pslra-1/stable-road-acquisition-corp-information-request-form-2?prid=17725&wire=1
RKT Shareholders Click Here: https://www.zlk.com/pslra-1/rocket-companies-inc-loss-submission-form?prid=17725&wire=1
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Churchill Capital Corp IV (NYSE:CCIV)
CCIV Lawsuit on behalf of: investors who purchased January 11, 2021 - February 22, 2021
Lead Plaintiff Deadline : August 30, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/churchill-capital-corp-iv-information-request-form?prid=17725&wire=1
According to the filed complaint, during the class period, Churchill Capital Corp IV made materially false and/or misleading statements and/or failed to disclose that: (1) Lucid was not prepared to deliver vehicles by spring of 2021; (2) Lucid was projecting a production of 557 vehicles in 2021 instead of the 6,000 vehicles touted in the run-up to the merger with Churchill; and (3) 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. When the true details entered the market, the lawsuit claims that investors suffered damages.
Stable Road Acquisition Corp. (NASDAQ:SRAC)
SRAC Lawsuit on behalf of: investors who purchased October 7, 2020 - July 13, 2021
Lead Plaintiff Deadline : September 13, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/stable-road-acquisition-corp-information-request-form-2?prid=17725&wire=1
According to the filed complaint, during the class period, Stable Road Acquisition Corp. made materially false and/or misleading statements and/or failed to disclose that: (a) Stable Road's acquistion target, Momentus's 2019 test of its key technology, a water plasma thruster, had failed to meet Momentus's own public and internal pre-launch criteria for success, and was conducted on a prototype that was not designed to generate commercially significant amounts of thrust; (b) the U.S. government had conveyed that it considered Momentus's Chief Executive Officer a national security threat, jeopardizing his continued leadership of Momentus and Momentus's launch schedule and business prospects; (c) consequently, the revenue projections and business and operational plans provided to investors regarding Momentus and the commercial viability and timeline of its products were materially false and misleading and lacked a reasonable basis in fact; and (d) Stable Road had failed to conduct appropriate due diligence of Momentus and its business operations and defendants had materially misrepresented the due diligence activities being conducted by Stable Road executives and its sponsor in connection with the merger.
Rocket Companies, Inc. (NYSE:RKT)
RKT Lawsuit on behalf of: investors who purchased February 25, 2021 - May 5, 2021
Lead Plaintiff Deadline : August 30, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/rocket-companies-inc-loss-submission-form?prid=17725&wire=1
According to the filed complaint, during the class period, Rocket Companies, Inc. made materially false and/or misleading statements and/or failed to disclose that: (a) Rocket's gain on sale margins were contracting at the highest rate in two years as a result of increased competition among mortgage lenders, an unfavorable shift toward the lower margin Partner Network operating segment and compression in the price spread between the primary and secondary mortgage markets; (b) Rocket was engaged in a price war and battle for market share with its primary competitors in the wholesale market, which was further compressing margins in Rocket's Partner Network operating segment; (c) the adverse trends identified above were accelerating and, as a result, Rocket's gain on sale margins were on track to plummet at least 140 basis points in the first six months of 2021; (d) as a result of the above, the favorable market conditions that had preceded the Class Period and allowed Rocket to achieve historically high gain on sale margins had vanished as the Company's gain on sale margins had returned to levels not seen since the first quarter of 2019; (e) rather than remaining elevated due to surging demand, Rocket's Company-wide gain-on-sale margins had fallen materially below recent historical averages; and (f) 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.
You have until the lead plaintiff deadlines to request that the court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
SOURCE: Levi & Korsinsky, LLP
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