NEW YORK, July 26, 2013 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Walter Investment Management Corp. ("Walter Investment" or the "Company") (NYSE:WAC) of the September 23, 2013 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain executives.
A complaint has been filed on behalf of all persons who purchased Walter Investment securities between May 9, 2012 and June 6, 2013 (the "Class Period").
The complaint alleges that the Company: (i) did not have adequate internal controls regarding its financial accounting; (ii) issued financial statements that contained false and misleading statements; (iii) did not disclose material weaknesses regarding the internal controls of its acquisition of Reverse Mortgage Solutions, Inc. ("Reverse Mortgage"); and (iv) overstated the value of Reverse Mortgage.
On June 6, 2013, Walter Investment announced that it would be filing restatements of certain historical financial information of Reverse Mortgage. Following this news, the Company's stock price closed at approximately $13, or 26% less than the Class Period high.
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If you invested in Walter Investment stock or options between May 9, 2012 and June 6, 2013 and would like to discuss your legal rights, visit www.faruqilaw.com/WAC. You can also contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to email@example.com or firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding Walter Investment's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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CONTACT: FARUQI & FARUQI, LLP 369 Lexington Avenue, 10th Floor New York, NY 10017 Attn: Richard Gonnello, Esq. email@example.com Francis McConville, Esq. firstname.lastname@example.org Telephone: (877) 247-4292 or (212) 983-9330Source:Faruqi & Faruqi LLP