Binkow & Goldberg LLP announces that a class action lawsuit has
been filed in the United States District Court for the Middle District
of Florida on behalf of a class (the “Class”) comprising all purchasers
of the securities of Walter
Investment Management Corp. (“Walter Investment” or the “Company”)
(NYSE:WAC) between May 9, 2012 and June 6, 2013 (the “Class Period”).
A COPY OF THE COMPLAINT
IS AVAILABLE FROM THE COURT OR FROM GLANCY BINKOW & GOLDBERG LLP. PLEASE
CONTACT US TOLL-FREE AT (888) 773-9224, OR AT (212) 682-5340, OR BY
EMAIL TO [email protected].
IF YOU INQUIRE BY EMAIL PLEASE INCLUDE YOUR MAILING ADDRESS, TELEPHONE
NUMBER AND NUMBER OF SHARES PURCHASED.
Walter Investment, together with its subsidiaries, provides business
services to the residential mortgage industry in the United States. The
Company specializes in offering creative, structured solutions to owners
of less-than-prime, non-conforming and other credit-challenged mortgage
assets. The Complaint alleges that throughout the Class Period the
Company misled investors regarding the integrity of its financial
reporting, including the reporting of expenses associated with certain
financing transactions, and the liabilities of its recent acquisition of
Reverse Mortgage Solutions, Inc. (“RMS”), a mortgage company with a
business model similar to Walter Investment.
Specifically, the Complaint alleges that defendants made false and
misleading statements and/or failed to disclose that: (1) the Company’s
lacked adequate internal controls over financial accounting; (2) the
Company’s internal controls were not effective; (3) the Company’s
financial statements contained false and misleading statements; (4) the
Company had failed to disclose material weaknesses in the internal
controls of RMS; (5) the Company had overstated the value of its recent
acquisition, RMS; and (6) as a result of the foregoing, the Company’s
statements were materially false and misleading at all relevant times.
If you are a member of the Class described above you may move the Court
no later than September 23, 2013 to serve as lead plaintiff; however,
you must meet certain legal requirements. If you wish to learn
more about this action or have any questions concerning this
announcement or your rights or interests with respect to these matters,
please contact Michael
Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century
Park East, Suite 2100, Los Angeles, California 90067, Toll Free at (888)
773-9224, or contact Gregory
Linkh, Esquire, of Glancy Binkow & Goldberg LLP at 122 E. 42nd
Street, Suite 2920, New York, New York 10168, at (212) 682-5340, by
e-mail to [email protected],
or visit our website at http://www.glancylaw.com.
If you inquire by email please include your mailing address, telephone
number and number of shares purchased.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Copyright Business Wire 2013