NEW YORK--(BUSINESS WIRE)--Levi & Korsinsky, LLP is investigating Altisource Residential Corporation (“RESI”) (NYSE:RESI) in connection with possible breaches of fiduciary duty stemming from its asset management agreement with Altisource Asset Management Corporation (“AAMC”) (NYSE MKT:AAMC). AAMC is controlled by RESI Chairman Bill Erbey, and members of AAMC also serve as both asset managers and executives of RESI.
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On March 19, 2014, an article by Glaucus Research Group was featured on SeekingAlpha.com; this article alleged that the Incentive Fee paid by RESI to AAMC is “at least four to seven times higher than the compensation received by similarly situated asset managers, and as such, is a sweetheart deal that will unjustly enrich insiders with a beneficial stake in AAMC at the expense of RESI’s shareholders.”
If you own common stock in RESI and wish to obtain additional information, please contact Eduard Korsinsky, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/altisource-residential-resi.
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