Walter Investment Management Corp.
Period: May 3, 2016 to Mar 13, 2017
Lead Plaintiff Deadline: May 15, 2017
Summary of Case:
A securities class action has been filed against Walter Investment Management Corp. (NYSE: WAC) on behalf of purchasers of Walter securities from May 3, 2016 through March 13, 2017. This case has been filed in the USDC - FL Southern.
The Complaint alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Walter had a material weakness in its internal control over financial reporting; and (2) as a result, defendants' statements about Walter's business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. On March 14, 2017, Walter disclosed that there was a material weakness in internal controls over financial reporting related to operational processes associated with Ditech Financial default servicing activities for the year ended December 31, 2016. On this news, shares of Walter fell $1.05 per share or over 38% to close at $1.65 per share on March 14, 2017, damaging investors.
If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.