EQUITY ALERT: The Rosen Law Firm Announces Investigation of Securities Claims against Altisource Asset Management Corporation - AAMC

NEW YORK--()--The Rosen Law Firm announces that it is investigating potential securities claims against Altisource Asset Management Corporation (NYSE:AAMC) resulting from allegations that AAMC may have issued materially misleading business information to the investing public.

AAMC is the asset manager for Altisource Residential Corporation (NYSE:RESI), which acquires loan portfolios from Ocwen Financial Corporation (NYSE:OCN). On December 22, 2014, New York State Department of Financial Services announced a settlement with OCN. As part of the settlement, OCN acknowledged that it didn’t properly deal with distressed homeowners, may have saddled them with excessive charges, and failed to maintain adequate systems for servicing its mortgages. Furthermore, William C. Erbey agreed to step down from his position as Executive Chairman of OCN and as Chairman of the Board of Directors of AAMC and RESI. On this news, shares of AAMC fell $108.8 per share or over 23% to close at $356.5 per share on December 22, 2014, damaging investors.

On January 13, 2015, it was revealed that California regulators are seeking to suspend the mortgage license of OCN. On this news, shares of AAMC fell $107.53 per share or over 33% to close at $214.28 per share on January 13, 2015, further damaging investors.

The Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by AAMC shareholders as a result of this adverse information. If you purchased AAMC stock on or before January 13, 2015, please visit the website at http://rosenlegal.com/cases-477.html for more information. You may also contact Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com.

The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.

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Contacts

The Rosen Law Firm, P.A.
Laurence Rosen, Esq.
Phillip Kim, Esq.
Kevin Chan, Esq.
275 Madison Avenue, 34th Floor
New York, NY 10016
Tel: 212-686-1060
Toll Free: 866-767-3653
Fax: 212-202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
kchan@rosenlegal.com
www.rosenlegal.com

Release Summary

Rosen Law Firm Representing Altisource Asset Management Shareholders in Securities Fraud Class Action Seeking to Recover Investors' Losses - AAMC

Contacts

The Rosen Law Firm, P.A.
Laurence Rosen, Esq.
Phillip Kim, Esq.
Kevin Chan, Esq.
275 Madison Avenue, 34th Floor
New York, NY 10016
Tel: 212-686-1060
Toll Free: 866-767-3653
Fax: 212-202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
kchan@rosenlegal.com
www.rosenlegal.com