NEW ORLEANS, May 12, 2017 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until June 20, 2017 to file lead plaintiff applications in a securities class action lawsuit against Ocwen Financial Corporation (NYSE: OCN), if they purchased the Company's securities between May 11, 2015 and April 19, 2017, inclusive (the "Class Period"). This action is pending in the United States District Court for the Southern District of Florida.
What You May Do
If you purchased securities of Ocwen and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by June 20, 2017.
About the Lawsuit
Ocwen and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On April 20, 2017, the Associated Press reported that the U.S. Consumer Financial Protection Bureau and the Florida Attorney General had filed suit against Ocwen based on a myriad of failures by the Company to meet obligations to its customers over many years, resulting in increased borrowing expenses and even illegal foreclosures. Further, financial regulators in over 20 other states have issued cease-and-desist and license revocation orders against Ocwen alleging faulty escrow management and other licensing issues.
On this news, the price of Ocwen's shares plummeted.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
206 Covington St.
Madisonville, LA 70447
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SOURCE Kahn Swick & Foti, LLC