IRVINE, Calif.--(BUSINESS WIRE)--Khang & Khang LLP (the “Firm”) announces the filing of a class action lawsuit against Walter Investment Management Corp. (“Walter” or the “Company”) (NYSE: WAC). Investors who purchased or otherwise acquired Walter shares between May 3, 2016, and March 13, 2017, inclusive (the “Class Period”), are encouraged to contact the firm in advance of the May 15, 2017 lead plaintiff deadline.
If you purchased shares of Walter during the Class Period, please contact Joon M. Khang, Esquire, of Khang & Khang, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or via e-mail at email@example.com.
There has been no class certification in this case. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.
On March 14, 2017, Walter announced that “[a]s of December 31, 2016, we identified a material weakness in internal controls over operational processes within the transaction level processing of Ditech Financial default servicing activities.” Walter then stated that it subsidiary, RMS, received a subpoena from the Office of Inspector General of HUD dated January 12, 2017 “requesting certain documents and information relating to the origination and underwriting of certain specified loans.”
Walter also mentioned that the investigation, held in coordination with the U.S. Department of Justice, Civil Division, could lead to a demand or claim under the False Claims Act, which could amount to penalties and treble damages. When this news was released to the investing public, the value of Walter dropped, causing investors serious harm.
If you wish to learn more about this lawsuit at no charge, or if you have questions concerning this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or via e-mail at firstname.lastname@example.org.
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