Harwood Feffer LLP Announces Investigation of Altisource Residential Corporation
NEW YORK, April 2, 2014 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against certain officers and directors of Altisource Residential Corporation ("RESI" or the "Company") (NYSE: RESI) concerning whether breaches of fiduciary duties have occurred.
RESI owns non-performing mortgages and foreclosed single-family homes. These assets are managed by Altisource Asset Management (AAMC). RESI pays AAMC a quarterly incentive fee.
A recent research report alleges that the incentive fee paid to AAMC is four to seven times higher than the compensation paid to similar asset managers and is "a sweetheart deal that will unjustly enrich insiders with a beneficial stake in AAMC at the expense of RESI's shareholders."
Our investigation concerns whether the RESI board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the Company, and/or committed abuses of control in connection with the foregoing.
If you own RESI shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
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SOURCE Harwood Feffer LLP