NEW YORK--(EON: Enhanced Online News)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Walter Investment Management Corp. (NYSE:WAC) resulting from allegations that Walter may have issued materially misleading business information to the investing public.
“[a]s of December 31, 2016, we identified a material weakness in internal controls over operational processes within the transaction level processing of Ditech Financial default servicing activities.”
On March 14, 2017, Walter disclosed that “[a]s of December 31, 2016, we identified a material weakness in internal controls over operational processes within the transaction level processing of Ditech Financial default servicing activities.” Walter also disclosed that it subsidiary, RMS, received a subpoena from the Office of Inspector General of HUD dated January 12, 2017 “requesting certain documents and information relating to the origination and underwriting of certain specified loans.” Walter further disclosed that the investigation, which is being conducted in coordination with the U.S. Department of Justice, Civil Division, could lead to a demand or claim under the False Claims Act, which allows for penalties and treble damages, or other statutes. On this news, shares of Walter fell sharply during intraday trading on March 14, 2017.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Walter investors. If you purchased shares of Walter please visit the firm’s website at http://www.rosenlegal.com/cases-1082.html for more information. You may also 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.
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