ROSEN, TRUSTED NATIONAL TRIAL COUNSEL, Announces Investigation of Securities Claims Against Velocity Financial, Inc. - VEL

Rhea-AI Summary

On July 16, 2020, Rosen Law Firm announced an investigation into potential securities claims for shareholders of Velocity Financial (NYSE: VEL). This action stems from allegations that the company may have provided misleading business information to investors. Following its IPO on January 17, 2020, where it raised approximately $94 million at $13.00 per share, Velocity Financial's stock has plummeted over 80%, hitting lows of $2.47 per share. The law firm is preparing a securities lawsuit on behalf of affected shareholders.

Positive

• None.

Negative

• Stock price declined over 80% since IPO, closing at $2.47 per share.
• Allegations of issuing materially misleading business information.

NEW YORK, July 16, 2020 /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Velocity Financial, Inc. (NYSE: VEL) resulting from allegations that Velocity Financial may have issued materially misleading business information to the investing public.

On January 17, 2020, Velocity Financial commenced its initial public offering ("IPO"), selling 7,250,000 shares of stock priced at $13.00 per share and raising approximately $94 million. Since the IPO, Velocity Financial's stock price has declined significantly, closing as low as $2.47 per share, representing a decline of over 80% from the offering price.

Rosen Law Firm is preparing a securities lawsuit on behalf of Velocity Financial shareholders. If you purchased securities of Velocity Financial please visit the firm's website at http://www.rosenlegal.com/cases-register-1867.html to join the securities action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or cases@rosenlegal.com.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm.

Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors.

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Contact Information:

      Laurence Rosen, Esq.
      Phillip Kim, Esq.
      The Rosen Law Firm, P.A.
      275 Madison Avenue, 40^th Floor
      New York, NY 10016
      Tel: (212) 686-1060
      Toll Free: (866) 767-3653
      Fax: (212) 202-3827
      lrosen@rosenlegal.com
      pkim@rosenlegal.com
      cases@rosenlegal.com
      www.rosenlegal.com

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SOURCE Rosen Law Firm, P.A.

FAQ

What is the recent news regarding Velocity Financial (VEL)?

Rosen Law Firm is investigating potential securities claims against Velocity Financial due to allegations of misleading business information.

Why is Rosen Law Firm investigating Velocity Financial (VEL)?

The investigation is based on claims that Velocity Financial may have issued materially misleading information to investors.

What happened to Velocity Financial's stock price since its IPO?

Since its IPO on January 17, 2020, Velocity Financial's stock price has fallen over 80%, reaching lows of $2.47 per share.

When did Velocity Financial have its IPO and how much did it raise?

Velocity Financial had its IPO on January 17, 2020, raising approximately $94 million by selling shares at $13.00 each.