Glancy Binkow & Goldberg LLP Announces Class Action Lawsuit Against Walter Investment Management Corp.

WAC

Glancy 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 SHAREHOLDERS@GLANCYLAW.COM. 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 shareholders@glancylaw.com, 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.


Rate this press release
0 stars
v
Usefulness

Clarity

Credibility
Add to favourites icon Add to favourites

top
top