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A Rocket Companies’ investor filed a stockholder derivative complaint on Monday that accuses Dan Gilbert of using non-public information to sell stock and avoid material losses.
An investor in Rocket Companies Inc. — which operates Rocket Mortgage, Rocket Homes, and Rocket Auto — filed a derivative lawsuit accusing the company’s founder and chairman of insider trading, claiming he sold $500 million in stock last year based on “material, non-public information about Rocket.” The 40-page complaint, first reported by Reuters news service, was filed Monday in the Court of Chancery in Delaware by shareholder Christopher Vargoshe. It names Rocket Chairman Daniel GIlbert and Rock Holdings Inc. (RHI) as defendants.