Kaplan Fox & Kilsheimer LLP said a class action has been filed against UWM Holdings Corporation on behalf of investors who purchased or otherwise acquired the company’s securities between March 9, 2026 and August 5, 2026. The complaint focuses on UWM’s second-quarter fiscal 2026 results, which included a $603.2 million interest rate derivatives loss that contributed to a $451.9 million net loss, while total equity fell 43.6% year over year. During an August 6, 2026 earnings call, Chief Executive Officer Mathew Ishbia said the company had been "over-hedged" in protecting against the Two Harbors transaction and explained that UWM does not traditionally hedge its MSRs (mortgage servicing rights), but had put on a hedge because of the risks around acquiring a large MSR book. UWM shares fell $0.64, or 34.78%, to close at $1.20 on August 6, 2026, on unusually heavy trading volume. The complaint alleges the company failed to disclose that it had departed from its traditional strategy by taking a major hedge position, over-hedged in anticipation of the Two Harbors transaction, created excess hedging risk instead of balancing risk, and made positive statements about its business, operations and prospects that were materially misleading or lacked a reasonable basis. Investors seeking to serve as lead plaintiff have until October 13, 2026.