NEW YORK, March 14, 2017 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Walter Investment Management ("Walter" or the "Company") (NYSE: WAC). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 9980.
The investigation concerns whether Walter and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On March 14, 2017, The Company disclosed a subpoena from HUD Inspector General for documents and information relating to origination and underwriting of certain specified loans. The Company further disclosed that the Justice Department's Civil Division is coordinating the investigation, and there is a possibility of a demand or a claim under the False Claims Act. The Company also disclosed a material weakness for its Ditech unit, which it is taking steps to remediate.
On this news the Company's share price has fallen more than $1.10, or over 40%, during intraday trading on March 14, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
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SOURCE Pomerantz LLP