HMPT.US
id: 827
Home Point (HMPT) $5M IPO Shareholder Settlement
Late claims are being considered for compensation, subject to approval.
$5,000,000
Cash SettlementE.D. Michigan
Court4:21-cv-11457
Case number01/29/2021
Class period Start06/21/2021
Class period End04/15/2024
Claim deadlineHome 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
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