NEW YORK, March 26, 2014 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Middle District of Florida on behalf of investors who purchased Walter Investment Management Corporation ("Walter Investment" or the "Company") (NYSE:WAC) securities between May 9, 2012 and February 26, 2014.
For more information, click here: http://zlk.9nl.com/walter-investment-management.
The complaint alleges that the Company made false and/or misleading statements and/or failed to disclose that, among other allegations: (a) the Company lacked adequate internal controls over its financial accounting and compliance with applicable laws; (b) the Company's internal controls were ineffective; (c) the Company's financial statements contained false and misleading statements; (d) the Company failed to disclose material weaknesses in the internal controls of its recently-acquired subsidiary, RMS; (e) the Company had overstated the value of said acquisition; and (f) the Company's business practices violated consumer financial protection laws, thereby jeopardizing future revenues and profits.
On March 18, 2013, Walter Investment disclosed that it had identified a material weakness in internal control over financial reporting. Then on February 27, 2014, the Company announced that the Federal Trade Commission had issued a Civil Investigation Demand to the Company's subsidiary, Green Tree Servicing LLC, requesting information relating to the company's operations.
If you suffered a loss in Walter Investment you have until May 6, 2014 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/walter-investment-management.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut, and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.comSource:Levi & Korsinsky, LLP