NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Altisource Portfolio Solutions S.A. (Nasdaq: ASPS).
On August 4, 2014, the New York’s Department of Financial Services (“DFS”) disclosed that it was investigating whether the Company entered into improper transactions with affiliated entities. According to the DFS, Altisource Portfolio Solutions S.A. entered into an arrangement with Ocwen Financial Corp., whose executives have substantial ties to the Company, providing $65 million in questionable fees to Altisource, in a potential conflict of interest.
On this news, the price of Altisource’s shares plummeted.
KSF’s investigation is focusing on whether Altisource and/or its officers and directors violated state or federal securities laws.
If you are an Altisource shareholder that has suffered losses related to your investment or have information that would assist KSF in its investigation, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis Kahn (email@example.com) or KSF Partner Melinda Nicholson (firstname.lastname@example.org) toll free at 1-877-515-1850.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities class action and shareholder derivative litigation with offices in New York, California and Louisiana. KSF’s lawyers have significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders.
To learn more about KSF, you may visit www.ksfcounsel.com.