The Law Offices of Frank R. Cruz announces an investigation of UWM Holdings Corporation (“UWM” or the “Company”) (NYSE: UWMC) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On April 2, 2024, Hunterbrook Media published a report alleging, among other things, that UWM gets almost all its business “from brokers who sent UWM more than 99% of their business” rather than shopping mortgages to competing lenders, causing borrowers to pay UWM “between hundreds of millions and billions more in closing costs than people whose brokers found them typical loans.” The same day, a racketeering consumer class action suit was filed against UWM, alleging that UWM engaged in a mortgage loan “steering enterprise” with “captive” brokers in violation of federal racketeering laws and other provisions.
On this news, UWM’s stock price fell $0.56, or 8.5%, to close at $6.00 per share on April 2, 2024, thereby injuring investors.
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If you purchased UWM securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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