Los Angeles, CA - (NewMediaWire) - July 17, 2020 - The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Velocity Financial, Inc. (“Velocity” or “the Company”) (NYSE: VEL) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Velocity commenced its initial public offering (“IPO”) on January 17, 2020, selling 7,250,000 shares at $13 per share, raising approximately $94 million. The Company’s shares have dropped sharply since the IPO, falling as low as $2.47 per share. This represents an 80% drop since the IPO.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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The Schall Law Firm
Brian Schall, Esq.