Walter Investment Management SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Class Action Against

Before you go, we thought you'd like these...
Before you go close icon

Walter Investment Management SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Class Action Against Walter Investment Management Corp. and Its Board of Directors and Lead Plaintiff Deadline of September 23, 2013

NEW YORK--(BUSINESS WIRE)-- 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") (NYS: 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, 2013to 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.



Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
Tel: 212-363-7500
Toll Free: 877-363-5972
Fax: 212-363-7171
www.zlk.com

KEYWORDS:   United States  North America  New York

INDUSTRY KEYWORDS:

The article Walter Investment Management SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Class Action Against Walter Investment Management Corp. and Its Board of Directors and Lead Plaintiff Deadline of September 23, 2013 originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners