Velocity Financial, Inc.

Berg v. Velocity Financial, Inc., et al., No. 2:20-cv-06780 (C.D. Cal.)

On January 17, 2020, Velocity Financial commenced its initial public offering (“IPO”) of 7.25 million shares at $13.00 each, raising approximately $94 million. Since the IPO, Velocity Financial’s stock price has plummeted, closing as low as $2.47 per share, representing a decline of approximately 81% from the IPO price.

The lawsuit alleges that the IPO materials failed to disclose that a substantial and growing proportion of Velocity Financial’s loans were non-performing and/or on non-accrual status, and failed to disclose any information whatsoever about the onset of the coronavirus pandemic and its actual and potential implications for Velocity Financial’s finances and prospects.

Investors who have lost money on their Velocity shares may be able to recover some of those losses, and should contact us using the form below.

Lead Plaintiff deadline
September 28, 2020
class period
Case Documents
Class Member Questionnaire
Instructions to Return Questionnaire

Settlement Agreement - July 27, 2020

Motion for Preliminary Approval - July 27, 2020

Order Granting Class Certification - April 22, 2020

Second Amended Complaint - February 6, 2019

Order Denying Defendants' Motions to Dismiss - July 9, 2018

Amended Complaint - February 28, 2018

Spanish Translated Documents

Order Granting Class Certification

Order Denying Defendants' Motions to Dismiss