SAN DIEGO, March 17, 2014 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed on behalf of certain purchasers of Walter Investment Management Corp (WAC) common stock over alleged violations of Federal Securities Laws by Walter Investment Management Corp in connection with certain allegedly false and misleading statements.
If you purchased shares of Walter Investment Management Corp (WAC), you have certain options and you should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that between May 9, 2012 and February 26, 2014 defendants made false and/or misleading statements and/or failed to disclose, among other things, that Walter Investment Management Corp lacked adequate internal controls over financial accounting and compliance with applicable laws, that Walter Investment Management Corp was in violation of applicable laws, rules and regulations, and that its business practices violated consumer financial protection laws, thereby jeopardizing future revenues and profits.
On March 18, 2013, Walter Investment Management Corp disclosed that, based on an evaluation by its Board of Directors and management, its management has identified a material weakness in its internal control over financial reporting.
On February 27, 2014, Walter Investment Management Corp disclosed in filing with the SEC that Federal Trade Commission issued a "Civil Investigation Demand" to Green Tree Servicing LLC, a wholly owned subsidiary of Walter Investment Management Corp, requesting information on a broad range of subjects relating to the company's operations.
Those who purchased shares of Walter Investment Management Corp have certain options and should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.