Rigrodsky & Long, P.A.:
- Do you, or did you, own shares of Walter Investment Management Corp. (NYSE: WAC )?
- Did you purchase your shares before May 9, 2012, or between May 9, 2012 and June 6, 2013, inclusive?
- Did you lose money in your investment in Walter Investment Management Corp.?
- Do you want to discuss your rights?
Rigrodsky & Long, P.A., including former Special Assistant United States Attorney, Timothy J. MacFall, announces that a complaint has been filed in the United States District Court for the Middle District of Florida on behalf of all persons or entities that purchased the common stock of Walter Investment Management Corp. (“Walter Investment” or the “Company”) (NYSE: WAC) between May 9, 2012 and June 6, 2013, inclusive (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).
If you purchased shares of Walter Investment during the Class Period, or purchased shares prior to the Class Period and still hold Walter Investment, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, NY at (888) 969-4242, by e-mail to firstname.lastname@example.org, or at: http://www.rigrodskylong.com/investigations/walter-investment-management-corp-wac.
Walter Investment is a fee-based business services provider to the residential mortgage industry. The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations and prospects. Specifically, the Complaint alleges that the defendants concealed from the investing public that: (1) the Company lacked adequate internal controls over financial accounting; (2) the Company’s internal controls were not effective; (3) the Company’s financial statements contained false and misleading statements; (4) the Company had failed to disclose material weaknesses in the internal controls of Reverse Mortgage Solutions, Inc. (“RMS”); (5) the Company had overstated the value of its recent acquisition, RMS; and (6) as a result of the foregoing, the Company’s statements were materially false and misleading at all relevant times. As a result of defendants’ false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period. During this time, Company insiders utilized these inflated prices to sell over $6.9 million worth of their Company shares.