SAN DIEGO, April 16, 2020 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP is investigating potential violations of the federal securities laws by Velocity Financial, Inc. ("Velocity" or "the Company") (NYSE: VEL).
On or about January 22, 2020, Velocity sold 7,250,000 shares of stock in its initial public stock offering (the "IPO"), at $13.00 a share raising $94,250,000 in new capital. However, since the IPO, Velocity stock has plunged, on April 16, 2020, the stock closed at $3.15.
Specifically, Johnson Fistel's investigation seeks to determine whether the Company's filings with the U.S. Securities and Exchange Commission in connection with its January 2020 IPO and subsequent investor communications contained untrue statements of material facts or omitted to state other facts necessary to make the statements made therein not misleading concerning the Company's business, and operations.
If you have information that could assist in this investigation, or if you are a Velocity shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number.
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About Johnson Fistel, LLP:
Johnson Fistel, LLP, is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson Fistel, LLP
Jim Baker, 619-814-4471
SOURCE Johnson Fistel, LLP