IRVINE, Calif.--(EON: Enhanced Online News)--Khang & Khang LLP (the “Firm”) announces that it is investigating claims against Walter Investment Management Corp. (“Walter” or the “Company”) (NYSE: WAC) concerning possible violations of federal securities laws.
“[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.”
If you purchased shares of Walter and want more information, please contact Joon M. Khang, Esquire, of Khang & Khang, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or by e-mail at firstname.lastname@example.org.
On March 14, 2017, Walter announced 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 then stated that its 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 also mentioned that the investigation, held in coordination with the U.S. Department of Justice, Civil Division, could lead to a demand or claim under the False Claims Act, which could amount to penalties and treble damages. When this news was released to the investing public, the value of Walter dropped, causing investors serious harm.
If you have any questions concerning this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or by e-mail at email@example.com.
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