Home Point Capital Inc.

Practice Area: 
Stock Symbol: 
HMPT
Case Status: 
Investigations

Ademi LLP is investigating Home Point (Nasdaq: HMPT) for possible breaches of fiduciary duty and other violations of law in its transaction with Mr. Cooper.

The purchase agreement provides for Mr. Cooper to acquire all outstanding shares of Home Point for approximately $324 million in cash. The transaction agreement unreasonably limits competing bids for Home Point by imposing a significant penalty if Home Point accepts a superior bid. Home Point insiders will receive substantial benefits as part of change of control arrangements.

We are investigating the conduct of Home Point’s board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Home Point.