The board of the Detroit Police and Fire Pension Fund has said that it will withdraw an insider-trading lawsuit against Dan Gilbert, controlling stakeholder of Rocket Mortgage and Quicken Loans parent Rocket Companies. So reports The Detroit News.
Filed November 23 in Delaware Chancery Court, the shareholder lawsuit accused Rock Holding Inc. of selling more than 20 million shares based on inside information.
A spokesperson for Rock Holding called the claim “false and preposterous.”
Read the full article from The Detroit News.