NEW YORK, June 15, 2017 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors
that a class action lawsuit has been filed against Ocwen Financial Corporation (“Ocwen” or the “Company”) (NYSE:OCN)
securities and certain of its officers, on behalf of a class who purchased Ocwen securities between January 13, 2015, and April 20,
2017, (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/ocn.
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 Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements about its business,
operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose
that: (1) Ocwen engaged in significant and systemic misconduct at nearly every stage of the mortgage servicing process; (2) the
above-mentioned conduct, when it became known would subject the Company to heightened regulatory scrutiny and potential criminal
sanctions; (3) consequently, Ocwen’s public statements were materially false and misleading at all relevant
times.
On April 20, 2017, the Consumer Financial Protection Bureau revealed that it was suing Ocwen, and reported that Ocwen had
generated errors in borrowers' accounts, failed to credit payments, illegally foreclosed on homeowners, and charged borrowers for
add-on products without their consent. Furthermore, authorities in Florida, North Carolina, and at least 18 other states have
issued cease-and-desist orders against the Company to address mishandling of consumer escrow accounts and a deficient financial
condition, specifically prohibiting Ocwen from acquiring new mortgage servicing rights and originating mortgage loans.
Following this news, Ocwen stock dropped $2.91, or 53.89%, to close at $2.49 on April 20, 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:
www.bgandg.com/ocn or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst,
Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Ocwen you have until June 20, 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.
Contact: Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Yael Hurwitz 212-697-6484 | info@bgandg.com
