NEW YORK, March 17, 2017 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Walter Investment Management Corp. ("Walter" or the "Company") (NYSE: WAC) and certain of its officers, and is on behalf of a class consisting of all persons or entities who purchased Walter securities between May 3, 2016 and March 13, 2017, both dates inclusive (the "Class Period). Investors are encouraged to learn more about this case by visiting the firm's site: http://www.bgandg.com/wac.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the "Exchange Act").
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose that: (1) Walter had a material weakness in its internal control over financial reporting; and (2) consequently, defendants' statements about Walter's business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On March 14, 2017, Walter revealed that it had received a subpoena from HUD Inspector General for documents and information relating to origination and underwriting of certain specified loans, that the Justice Department's Civil Division is directing the investigation, and there is a possibility of a demand or a claim under the False Claims Act. Walter also unveiled a material weakness for its Ditech unit, which it is correcting. Following this news, Walter stock dropped $1.05 per share or over 38% to close at $1.65 per share on March 14, 2017.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: http://www.bgandg.com/wac or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. You have until May 15, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | firstname.lastname@example.org
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