Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Walter Investment Management Corp. To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Walter Investment Management Corp. (“Walter Investment” or the “Company”) (NYSE: WAC) of the May 6, 2014 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against Walter Investment and certain executives.
A complaint has been filed on behalf of all persons who purchased Walter Investment securities between May 9, 2012 and February 26, 2014, inclusive (the “Class Period”) in the Southern District of Florida.
The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.
Specifically, the action alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company’s internal controls were inadequate; (ii) the Company issued false and misleading financial statements; (iii) the Company overstated the value of its acquisition of Reverse Mortgage Solutions, Inc. (“RMS”); (iv) RMS’s internal controls were plagued by material weaknesses; and (v) the Company’s business practices violated consumer financial protection laws.
On February 27, 2014, Walter Investment announced that the Federal Trade Commission issued a Civil Investigative Demand to its wholly-owned subsidiary, Green Tree Servicing LLC, requesting information relating to the company’s operations.
Following this news, the Company’s stock declined $2.39 per share, or over 8%, to close at $25.90 per share on February 27, 2014.
If you invested in Walter Investment stock, bonds or options between May 9, 2012 and February 26, 2014 and would like to discuss your legal rights, you can contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org or email@example.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Walter Investment’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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