BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of UWM Holdings Corporation (“UWM” or the “Company”) (NYSE: UWMC) investors concerning the Company’s possible violations of federal securities laws.
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.
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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847 or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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