NYSE:WAC Investor Notice: Deadline in Lawsuit against Walter Investment Management Corp

The Shareholders Foundation announces that a deadline is coming up on September 23, 2013 in the lawsuit filed for investors of Walter Investment Management Corp (NYSE:WAC) over alleged Securities Laws violations in connection with certain allegedly false and misleading statements made by Walter Investment Management Corp between May 9, 2012 and June 6, 2013.

Tampa, FL based Walter Investment Management Corp., together with its subsidiaries, is a fee-based business services provider to the residential mortgage industry

Investors who purchased shares of Walter Investment Management Corp (NYSE:WAC) have certain options and for certain investors are short and strict deadlines running. Deadline: Sept. 23, 2013. NYSE:WAC investors should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.

According to the complaint filed in the U.S. District Court for the Middle District of Florida the plaintiff alleges on behalf of purchasers of Walter Investment Management Corp (NYSE:WAC) common stock during the period between May 9, 2012 and June 6, 2013, that Walter Investment Management Corp and certain of its officers and directors violated Federal Securities Laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.

More specifically, the plaintiff alleges that defendants made false and/or misleading statements and/or failed to disclose that Walter Investment Management Corp lacked adequate internal controls over financial accounting, that Walter Investment Management’s internal controls were not effective, that Walter Investment Management’s financial statements contained false and misleading statements, that Walter Investment Management Corp had failed to disclose material weaknesses in the internal controls of its recent acquisition Reverse Mortgage Solutions, Inc. (“RMS”0, that Walter Investment Management Corp had overstated the value of RMS, and that as a result of the foregoing, Walter Investment Management’s statements were materially false and misleading at all relevant times.

On March 18, 2013, Walter Investment Management Corp announced its results for the fourth quarter and fiscal year 2012 results. Among other things, Walter Investment Management Corp also issued its guidance for 2013. Shares of Walter Investment Management Corp (NYSE:WAC) declined from $48.95 per share on March 5, 2013 to $32.49 per share in March 22, 2013.

Then on June 6, 2013, on June 6, 2013, Walter Investment Management Corp disclosed in a filing with the SEC that it would be restating certain previously-disclosed historical financial information for Reverse Mortgage Solutions, Inc.

NYSE:WAC shares declined to $31.77 per share on July 9, 2013.

On September 16, 2013, NYSE:WAC shares closed at $40.08 per share.

Those who purchased shares of Walter Investment Management Corp (NYSE:WAC) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

The Shareholders Foundation, Inc. is a professional portfolio monitoring and 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.
Posted by on Sep 17 2013. All trademarks acknowledged. Filed under Press Release. Comments and Trackbacks closed. Follow responses: RSS 2.0

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