NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces that it has filed a class action lawsuit on behalf of purchasers of Walter Investment Management Corp. securities (NYSE: WAC) from May 3, 2016 through March 13, 2017, both dates inclusive (the “Class Period”). The lawsuit seeks to recover damages for Walter investors under the federal securities laws.
To join the Walter class action, go to http://www.rosenlegal.com/cases-1082.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email firstname.lastname@example.org or email@example.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Walter had a material weakness in its internal control over financial reporting; and (2) as a result, defendants’ statements about Walter’s business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. On March 14, 2017, Walter disclosed that there was a material weakness in internal controls over financial reporting related to operational processes associated with Ditech Financial default servicing activities for the year ended December 31, 2016. On this news, shares of Walter fell $1.05 per share or over 38% to close at $1.65 per share on March 14, 2017, damaging investors.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 15, 2017. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-1082.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or via email at firstname.lastname@example.org or email@example.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.