NEW YORK, April 2, 2015 (GLOBE NEWSWIRE) -- The Brualdi Law Firm, P.C. announces that a lawsuit has been commenced in the United States District Court for the Virgin Islands on behalf of purchasers of Altisource Residential Corporation ("Altisource" or the "Company") (NYSE:RESI) securities during the period between February 7, 2013 and January 23, 2015 (the "Class Period") for violations of federal securities laws.
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased Altisource securities during the Class Period, and wish to move the court for appointment of lead plaintiff, you must do so by May 26, 2015. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You do not need to seek appointment as a lead plaintiff in order to share in any recovery.
To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact The Brualdi Law Firm, P.C. as set forth below.
The Complaint alleges that the Altisource Residential Corporation made false and/or misleading statements and/or failed to disclose: (1) the full scope of its reliance on Ocwen Financial Corporation ("Ocwen"), a related party and the risks relating to its relationship with Ocwen; and (2) the full scope of its related party relationship with the Company. The Complaint also alleges that when the true details entered the market, Altisource's share price declined and investors suffered damages.
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