NEW YORK, April 27, 2017 (GLOBE NEWSWIRE) — The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Walter Investment Management Corp. (NYSE:WAC) who purchased shares between May 3, 2016 and March 13, 2017. The action, which was filed in the USDC for the Middle District of Florida, alleges that the Company violated federal securities laws.
The complaint alleges that throughout the class period Walter Investment made materially false and misleading statements about its financial condition, largely because: (1) the Company was involved in fraudulent practices that violated the False Claims Act; (2) the Company’s Ditech subsidiary had a material weakness in its internal control over operational processes; and (3) resultantly, the Company lacked adequate internal controls over financial reporting.
Shareholders have until May 15, 2017 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
If you suffered a loss during the class period and wish to obtain additional information, please contact Joseph Klein, Esq. by telephone at 212-616-4899 or visit http://www.kleinstocklaw.com/pslra-sa/walter-investment-wac?wire=3.
Joseph Klein, Esq. is an experienced attorney and has also practiced as a Certified Public Accountant. Mr. Klein represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: CONTACT: Joseph Klein, Esq. Empire State Building 350 Fifth Avenue 59th floor New York, NY 10118 Telephone: (212) 616-4899 Fax: (347) 558-9665 www.kleinstocklaw.com