Investigation of Velocity Financial, Inc.
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Shareholder Alert: Robbins LLP Reminds Investors It is Investigating the Officers and Directors of Velocity Financial, Inc. (VEL) on Behalf of Shareholders
June 24, 2020 (San Diego, CA & Westlake Village, CA) – Shareholder rights law firm Robbins LLP reminds shareholders that it is investigating Velocity Financial, Inc. (NYSE: VEL) for potential material misstatements and violations of federal securities laws pursuant to its January 2020 initial public offering (“IPO”). Velocity offered 7,250,000 shares at $13 per share and raised $100.7 million in gross proceeds. Since its IPO, Velocity’s stock has precipitously declined and by May 12, 2020, shares of Velocity closed at only $3.00 per share, representing a staggering decline of approximately 77% from its IPO share price.