Rocket Companies scored a win in a derivative lawsuit alleging insider trading by its primary stakeholder, Rocket Holdings, Inc. (RHI), an entity owned by founder and chairman Dan Gilbert, and its board of directors.

The lawsuit stemmed from two complaints, one filed by the Doris Shenwick Trust in November 2021 and another by investor Christopher Vargoshe in February 2022. The plaintiffs claimed Gilbert pocketed $500 million by selling company stock ahead of Rocket reporting poor earnings and guidance. The case was heard in the Delaware Chancery Court.

Following a three-day trial, Judge Kathaleen McCormick details ⇒

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