Levi & Korsinsky announces that a class action lawsuit has been
commenced in the United States District Court for the Middle District of
Florida on behalf of investors who purchased Walter Investment
Management Corp. (“Walter” or the “Company”) (NYSE:WAC) commons stock
during the period between May 9, 2012 and June 6, 2013.
Click here to learn more about the investigation http://zlk.9nl.com/walter-investment-wac/,
or call: 877-363-5972. There is no cost or obligation to you.
The complaint alleges that the Company misrepresented and/or failed to
disclose that: a) the Company lacked adequate internal controls over
financial accounting; b) the Company’s financial statements contained
false and misleading statements; c) the Company failed to disclose
material weaknesses in the internal controls of its recent acquisition,
Reverse Mortgage Solutions, Inc. (“RMS”); d) the Company had overstated
the value of RMS; and e) as a result of the foregoing, all statements at
relevant times were materially false and misleading.
On March 18, 2013, the Company disclosed that it had identified a
material weakness in its internal control over financial reporting. On
this news, the Company’s shares fell 20% to close at $32.98 on March 19,
2013. On June 6, 2013, the Company reported that it had discovered a
failure to record certain estimated liabilities to investors relating to
servicing error by RMS and, therefore, RMS’ financial statements should
no longer be relied upon.
Shareholders of Walter have until September 23, 2013 to seek
appointment as lead plaintiff. Your ability to share in any recovery
doesn’t require that you serve as a lead plaintiff. To obtain additional
information, contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com
or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/walter-investment-wac/.
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. Attorney advertising. Prior results do not
guarantee similar outcomes.
Copyright Business Wire 2013