NEW YORK, NY -- (Marketwired) -- 03/15/14 -- 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.
Request more information now by clicking here: www.faruqilaw.com/WAC. There is no cost or obligation to you.
Take Action
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, visit www.faruqilaw.com/WAC. You can also 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 rgonnello@faruqilaw.com or fmcconville@faruqilaw.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.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients. To keep track of the latest securities litigation news, follow us on Twitter at www.twitter.com/MergerActivity or on Facebook at www.facebook.com/FaruqiLaw.
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FARUQI & FARUQI, LLP
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Attn: Richard Gonnello, Esq.
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Francis McConville, Esq.
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Telephone: (877) 247-4292 or (212) 983-9330
