An investigation on behalf of investors in Velocity Financial, Inc. (NYSE:VEL) shares over potential wrongdoing at Velocity Financial, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 06/07/2021 -- An investigation on behalf of investors in shares of Velocity Financial, Inc. (NYSE: VEL) was announced over potential breaches of fiduciary duties by certain officers and directors at Velocity Financial, Inc.
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 concerns whether certain Velocity Financial directors breached their fiduciary duties and caused damage to the company and its shareholders.
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.
Velocity Financial, Inc. reported that its annual Total Revenue rose from $54.26 million in 2019 to $65.96 million in 2020, and that its Net Income increased from $17.29 million in 2019 to $17.77 million in 2020.
On June 3, 2021, shares of Velocity Financial, Inc. (NYSE: VEL) closed at $10.48 per share.
Those who purchased shares of Velocity Financial, Inc. (NYSE: VEL) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , 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, investigation, and/or settlements are not filed/reached and/or 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.