LOS ANGELES--(BUSINESS WIRE)--Glancy Binkow & Goldberg LLP announces that a class action lawsuit has been filed in the United States District Court for the District of the Virgin Islands on behalf of a class (the “Class”) comprising purchasers of the securities of Altisource Residential Corporation (“RESI” or the “Company”) (NYSE:RESI) between February 7, 2013 and January 23, 2015, inclusive (the “Class Period”).
Please contact Lesley Portnoy at 888-773-9224 or 310-201-9150, or at email@example.com to discuss this matter. If you inquire by email, please include your mailing address, telephone number, and number of shares purchased.
Altisource Residential, through its wholly-owned subsidiary, Altisource Residential, L.P., is engaged in acquiring, owning and managing single-family rental properties in the United States. On December 22, 2014, Altisource Residential shares dropped $1.37 below their previous closing price after the Company announced that William C. Erbey would be stepping down as Chairman of the Board of Directors of Altisource Residential effective January 16, 2015. Erbey also stepped down from his post as executive chairman of Ocwen Financial Corporation following an investigation by New York State regulatory authorities that alleged conflicts of interests involving financial transactions involving Ocwen and related companies with financial ties to Ocwen, including Altisource Residential, Altisource Portfolio Solutions S.A. and Home Loan Servicing Solutions, Ltd. (HLSS). The complaint alleges that the Company failed to fully disclose its exposure to loss of revenue, government investigations, and other issues associated with its relationship to Ocwen, Erbey and other related parties.
If you are a member of the Class described above, you may move the Court no later than May 26, 2015, to serve as lead plaintiff, if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, at (310) 201-9150, by e-mail to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com. If you inquire by email, please include your mailing address, telephone number and number of shares purchased.
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