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HMPT.US
id: 827

Home Point (HMPT) $5M IPO Shareholder Settlement

The settlement funds have been distributed to claimants.
$5,000,000
Cash Settlement
E.D. Michigan
Court
4:21-cv-11457
Case number
01/29/2021
Class period Start
06/21/2021
Class period End
04/15/2024
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 Type
US Securities Class Action
Case Status
Disbursed
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
06/21/2021
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
05/14/2024
Exclusion deadline
04/23/2024
Objection deadline
04/23/2024
Trades matching type
FIFO
Disbursement date
05/20/2025

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