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Investigation announced for Investors in shares of Velocity Financial, Inc. (NYSE: VEL)

04-23-2020 07:23 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation was announced over potential securities laws violations by Velocity Financial, Inc. in connection with certain financial statements.

Investors who purchased shares of Velocity Financial, Inc. (NYSE: VEL), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether a series of statements by Velocity Financial, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Westlake Village, CA based Velocity Financial, Inc. operates as a real estate finance company in the United States. On or about January 22, 2020, Velocity Financial, Inc. 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 declined to as low as $2.24 per share on April 3, 2020.

On April 17, 2020, shares of Velocity Financial, Inc. (NYSE: VEL) closed at $3.10 per share.

Those who purchased shares of Velocity Financial, Inc. (NYSE: VEL) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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