Klein Law Firm Reminds Investors of Class Actions on Behalf of SPCE, FREQ and RKT Shareholders

NEW YORK, NY / ACCESSWIRE / July 9, 2021 / Klein Law Firm announces that class actions have been filed on behalf of shareholders of the following companies. There is no charge to participate in the lawsuit. If you have suffered prejudice, you have until the principal applicant’s deadline to ask the court to appoint you as the principal applicant.

Virgin Galactic Holdings, Inc. (NYSE: SPCE)
Class period: October 26, 2019 – April 30, 2021
Lead applicant’s deadline: July 27, 2021

According to the complaint, Virgin Galactic Holdings, Inc. allegedly made materially false and / or misleading statements and / or failed to disclose that: (i) for accounting purposes, the Social Capital Hedosophia Holdings Corp. (“SCH”) were to be treated as liabilities rather than actions; (ii) Virgin Galactic had weak disclosure controls and procedures and internal controls over financial reporting; (iii) as a result, the Company incorrectly accounted for the SCH warrants that were outstanding at the time of the business combination; and (iv) accordingly, the Company’s public statements were materially false and misleading at all material times.

Learn more about your recoverable losses in SPCE: https://www.kleinstocklaw.com/pslra-1/virgin-galactic-holdings-inc-loss-submission-form?id=17543&from=1

Frequency Therapeutics, Inc. (NASDAQ: FREQ)
Class period: November 16, 2020 – March 22, 2021
Lead applicant’s deadline: August 2, 2021

The complaint alleges that during the Class Period, Frequency Therapeutics, Inc. made materially false and / or misleading statements and / or did not disclose that: the results of the Phase 2a trial of the company did not meet the company’s expectations because the results showed no discernible difference between FX-322 and placebo. Despite the disappointing results, the company continued to conduct the Phase 2a study while issuing positive statements in earnings calls, press releases, SEC filings, and pharmaceutical presentations on the potential of FX- 322. These statements significantly misled the market and artificially inflated the value of Frequency’s common stock.

Find out about your recoverable losses in FREQ: https://www.kleinstocklaw.com/pslra-1/frequence-therapeutics-inc-loss-submission-form?id=17543&from=1

Rocket Companies, Inc. (NYSE: RKT)
Class period: February 25, 2021 – May 5, 2021
Lead applicant’s deadline: August 30, 2021

Rocket Companies, Inc. allegedly made false and / or misleading statements and / or failed to disclose that: (a) Rocket’s gain on selling margins was contracting at the highest rate in two years due to a increased competition among mortgage lenders, an unfavorable shift to the operational segment of the low-margin partner network and compression of the price differential between the primary and secondary mortgage markets; (b) Rocket was engaged in a price war and battle for market share with its major competitors in the wholesale market, which further squeezed the margins of the operating segment of Rocket’s partner network; (c) the adverse trends identified above were accelerating and, as a result, the margin gain on Rocket’s sales was on track to decline by at least 140 basis points in the first six months of 2021; (d) as a result of the foregoing, the favorable market conditions which preceded the Class Period and allowed Rocket to achieve a historically high gain on selling margins had disappeared as the Company’s gain on trading margins. sales had returned to levels not seen since the first quarter of 2019; (e) instead of remaining high due to strong demand, Rocket’s enterprise-wide selling profit margins were significantly lower than recent historical averages; and (f) as a result of the foregoing, the positive statements by the defendants regarding the business activities and prospects of the Company were materially misleading and / or lacked reasonable basis.

Learn more about your recoverable losses in RKT: https://www.kleinstocklaw.com/pslra-1/rocket-companies-inc-loss-submission-form?id=17543&from=1

Your ability to participate in any recovery does not require you to serve as the principal applicant. If you have suffered a loss during the Claim Period and would like further information, please contact J. Klein, Esq. by phone at 212-616-4899 or visit the web pages provided.

J. Klein, Esq. represents investors and participates in securities litigation involving financial fraud nationwide. Lawyer advertising. Past results do not guarantee similar results.

J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th floor
New York, New York 10118
[email protected]
Telephone: (212) 616-4899
Fax: (347) 558-9665

SOURCE: Klein law firm

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