NEW YORK, Sept. 14, 2020 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Velocity Financial, Inc. ("Velocity" or the "Company") (NYSE: VEL). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Velocity and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On or about January 17, 2020, Velocity commenced its initial public offering ("IPO"), selling 7,250,000 shares of stock priced at $13.00 per share and raising $94,250,000 in new capital. Since the IPO, Velocity's stock price has declined significantly, closing as low as $2.47 per share, representing a decline of 81% from the offering price.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980
SOURCE Pomerantz LLP