SHAREHOLDER ALERT: The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into Possible Breaches of Fiduciary Duty by PennyMac Mortgage Investment Trust
NEW YORK, July 19, 2013 /PRNewswire/ -- Levi & Korsinsky is investigating potential claims on behalf of purchasers of PennyMac Mortgage Investment Trust ("PMT" or the "Company") (NYSE: PMT) stock.
For more information, click here: http://zlk.9nl.com/pennymac-mortgage-pmt/.
The investigation concerns allegations that PMT's Chairman and CEO, Stanford L. Kurland, benefited through PennyMac Financial Services, Inc. ("PennyMac Financial") at PMT's expense. In PennyMac Financial's 2013 Initial Public Offering it was revealed that PMT paid PennyMac Financial and its subsidiaries more than $96 million the previous year—a significant increase from $8.6 million in 2010 and $23.4 million in 2011. Kurland has been the Chair and CEO of PennyMac Financial since its formation in 2008. It was further acknowledged that PMT accounted for more than one-third of PennyMac Financial's net revenue in 2012, and that, "The members of our senior management team may have conflicts in allocating their time and services between our operations and the activities of PMT, the Investment Funds and other entities or accounts managed by us now or in the future."
If you own PMT stock and wish to obtain additional information about the investigation and your legal rights please contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/pennymac-mortgage-pmt/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (866) 367-6510
SOURCE Levi & Korsinsky, LLP