LOS ANGELES--(BUSINESS WIRE)--Lundin Law PC, a shareholder rights 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.
No class has been certified in the above action. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
Walter revealed 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 also offered that its 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.”
When this information was disclosed to investors, the value of Walter stock dropped, causing harm to investors.
Lundin Law PC was founded by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding shareholders’ rights.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.