IRVINE, Calif., April 28, 2017 /PRNewswire/ -- Khang & Khang LLP (the "Firm") announces the filing of a class action lawsuit against Walter Investment Management Corp. ("Walter" or the "Company") (NYSE: WAC). Investors who purchased or otherwise acquired the Company's shares between May 3, 2016 and March 13, 2017, inclusive (the "Class Period"), are encouraged to contact the Firm in advance of the May 15, 2017 lead plaintiff motion deadline.
If you purchased Walter shares during the Class Period, please contact Joon M. Khang, Esq., of Khang & Khang LLP, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or by e-mail at firstname.lastname@example.org.
There has been no class certification in this case yet. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.
The Complaint states that during the Class Period, Walter made false and/or misleading statements and/or failed to disclose: that the Company's subsidiary Ditech had a material weakness in its internal control over operational processes; that the Company lacked effective internal controls over financial reporting; and that as a result of the above, Walter's public statements were materially false and misleading at all relevant times. On March 14, 2017, Walter filed its Annual Report on Form 10-K with the Securities and Exchange Commission, reporting the Company's financial and operating results for the quarter and year ended December 31, 2016. 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." Upon release of this information, Walter's stock price declined materially, which harmed investors according to the Complaint.
If you wish to learn more about this lawsuit, or if you have questions about 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.
This press release may constitute Attorney Advertising in some jurisdictions.
Joon M. Khang, Esq.
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SOURCE Khang & Khang LLP