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July 19, 2013 /PRNewswire/ -- Faruqi & Faruqi, LLP, a national law firm concentrating on investor rights, consumer rights and the enforcement of federal antitrust laws, is investigating potential claims against the Board of Directors of PennyMac Mortgage Investment Trust ("PMT" or the "Company") (NYSE: PMT) concerning possible breaches of fiduciary duty and other violations of state law.
The investigation concerns founder, Chairman, and Chief Executive Officer ("CEO")
Stanford L. Kurland on claims of self-dealing in connection with certain statements made by PennyMac Financial Services, Inc. ("PennyMac Financial Services") in its
February 2013 initial public offering statement. Specifically, the statement revealed that PMT paid PennyMac Financial Services and its subsidiaries
$96 million in 2012, a significant increase from
$8 million in 2010 and
$22 million in 2011. Mr. Kurland has been the Chairman and Chief Executive Officer of PennyMac Financial Services since its formation in
January 2008. Shareholders interested in seeking to recover damages on behalf of PMT and to implement corporate governance measures designed to prevent future misconduct should contact the firm.
Request more information now by clicking here: www.faruqilaw.com/PMT
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action and derivative litigation. The firm is focused on providing exemplary legal services in the areas of securities, shareholder, antitrust and consumer litigation, through all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients.
If you hold PMT shares and you would like to discuss your legal rights, visit
www.faruqilaw.com/PMT. You can also contact us by calling
Michael J. Hynes free at 877-247-4292 or at 215-277-5770 or by sending an e-mail to