LOS ANGELES--(BUSINESS WIRE)--Lundin Law PC, a shareholder rights firm, announces a class action lawsuit against Ocwen Financial Corporation (“Ocwen” or the “Company”) (NYSE:OCN) concerning possible violations of federal securities laws between May 11, 2015 and April 19, 2017 inclusive (the “Class Period”). Investors who purchased or otherwise acquired shares during the Class Period should contact the firm in advance of the June 20, 2017 lead plaintiff motion deadline.
No class has been certified in the above action yet. 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.
According to the Complaint, Ocwen made false and/or misleading statements and/or failed to disclose: that the Company engaged in significant and systemic misconduct at nearly every stage of the mortgage servicing process; that this conduct would subject Ocwen to heightened regulatory scrutiny and potential criminal sanctions; and that as a result of the above, the Company’s public statements were materially false and misleading at all relevant times. On April 20, 2017, the Consumer Financial Protection Bureau announced that it was suing Ocwen, and several states issued cease-and-desist orders against the Company. When this information was released to the public, shares of Ocwen dropped in value significantly.
Lundin Law PC was established by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding shareholders’ rights.
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