NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the Southern District of Florida on behalf of all persons or entities who purchased or otherwise acquired Walter Investment Management Corp. (NYSE:WAC) securities between May 3, 2016 and March 13, 2017 (the “Class Period”). Investors have until May 15, 2017, to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that Walter had a material weakness in its internal controls over financial reporting. As a result, Defendants’ statements about Walter’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis throughout the Class Period.
On March 14, 2017, Walter disclosed that there was material weakness in internal controls over financial reporting for the year ended December 31, 2016. Following this news, shares of Walter fell $1.05 per share, or over 38%, to close at $1.65 per share on March 14, 2017.
If you purchased or otherwise acquired Walter securities and suffered a loss, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Esq. by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning the Walter lawsuit, please go to www.bespc.com/wac. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com.