NEW ORLEANS, March 11, 2014 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until May 6, 2014 to file lead plaintiff applications in a securities class action lawsuit against Walter Investment Management Corp. (NYSE:WAC), if they purchased the Company's securities during the period between May 9, 2012 and February 26, 2014, inclusive (the "Class Period"). This action is pending in the United States District Court for the Middle District of Florida.
What You May Do
If you purchased shares of Walter Investment and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850, or email KSF Managing Partner Lewis Kahn ([email protected]) or KSF Partner Melinda Nicholson ([email protected]). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by May 6, 2014.
About the Lawsuit
Walter Investment and certain of its executives are charged with issuing a series of materially false and misleading statements during the Class Period, violating federal securities laws.
These false statements and omissions included, in part, that: (i) the Company lacked adequate internal controls over financial accounting and compliance with applicable laws; (ii) the Company's internal controls were not effective; (iii) the Company had failed to disclose material weaknesses in the internal controls of its recently acquired subsidiary, RMS; (iv) the Company had overstated the value of its RMS acquisition; (v) the Company was in violation of applicable law, rules and regulations; (vi) the Company's business practices violated consumer financial protection laws and jeopardized the Company's revenues and profits.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.
CONTACT: Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
Melinda Nicholson, Partner
206 Covington St.
Madisonville, LA 70447