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NEW YORK, April 20, 2017 -- Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of Walter Investment Management Corp. securities (NYSE:WAC) from May 3, 2016 through March 13, 2017, both dates inclusive (the “Class Period”). The lawsuit seeks to recover damages for Walter investors under the federal securities laws.
To join the Walter class action, go to http://www.rosenlegal.com/cases-1082.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Walter had a material weakness in its internal control over financial reporting; and (2) as a result, defendants’ statements about Walter’s business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. On March 14, 2017, Walter disclosed that there was a material weakness in internal controls over financial reporting related to operational processes associated with Ditech Financial default servicing activities for the year ended December 31, 2016. On this news, shares of Walter fell $1.05 per share or over 38% to close at $1.65 per share on March 14, 2017, damaging investors.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 15, 2017. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-1082.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or via email at [email protected] or [email protected].
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm.
Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. Kevin Chan, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 34th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 [email protected] [email protected] [email protected] www.rosenlegal.com
