PHILADELPHIA, July 30, 2020 (GLOBE NEWSWIRE) -- Kehoe Law Firm, P.C. is investigating potential securities claims on behalf of investors of Velocity Financial, Inc. (“Velocity” or the “Company”) (: VEL) to determine whether the Company engaged in securities fraud or other unlawful business practices.
Velocity investors who purchased, or otherwise acquired, the Company’s common stock in connection with its January 2020 Initial Public Offering (“IPO”) and suffered losses greater than $50,000 are encouraged to complete Kehoe Law Firm’s Securities Class Action Questionnaire or contact Kevin Cauley, Director, Business Development, (215) 792-6676, Ext. 802, [email protected], [email protected], [email protected], to discuss the securities investigation or potential legal claims.
Velocity investors should be aware that a class action lawsuit has been filed against Velocity on behalf of investors who purchased or acquired Velocity common stock in connection with the Company’s IPO.
According to the class action complaint, the Offering Materials issued in connection with Velocity’s IPO “ . . . were negligently prepared and, as a result, contained untrue statements of material fact, omitted material facts necessary to make the statements contained therein not misleading, and failed to make necessary disclosures required under the rules and regulations governing their preparation.”
Velocity investors should be aware that the value of Velocity’s common stock has declined since the IPO. In fact, during intraday trading on July 30, 2020, the Company’s stock was trading below $4.00 per share.
Kehoe Law Firm, P.C., with offices in New York and Philadelphia, is a multidisciplinary, plaintiff–side law firm dedicated to protecting investors from securities fraud, breaches of fiduciary duties, and corporate misconduct. Combined, the partners at Kehoe Law Firm have served as Lead Counsel or Co-Lead Counsel in cases that have recovered more than $10 billion on behalf of institutional and individual investors.
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