INVESTOR ALERT: Investigation of Altisource Residential Corporation Announced by Glancy Binkow & Goldberg LLP
26 Janvier 2015 - 6:32PM
Business Wire
Glancy Binkow & Goldberg LLP announces that it is
investigating potential claims on behalf of investors of Altisource
Residential Corporation (“Altisource Residential” or the “Company”)
(NYSE:RESI) concerning possible violations of federal securities
laws. The investigation is focused on certain statements issued by
Altisource Residential concerning the Company’s business and
financial condition.
Please contact Lesley Portnoy at 888-773-9224 or 310-201-9150,
or at shareholders@glancylaw.com to discuss this matter. If you
inquire by email please include your mailing address, telephone
number and number of shares purchased.
Altisource Residential, through its wholly-owned subsidiary,
Altisource Residential, L.P., is engaged in acquiring, owning and
managing single-family rental properties in the United States. On
December 22, 2014, Altisource Residential shares dropped $1.37
below their previous closing price after the Company announced that
William C. Erbey would be stepping down as Chairman of the Board of
Directors of Altisource Residential effective January 16, 2015.
Erbey also stepped down from his post as executive chairman of
Ocwen Financial Corporation following an investigation by New York
State regulatory authorities that alleged conflicts of interests
involving financial transactions involving Ocwen and related
companies with financial ties to Ocwen, including Altisource
Residential, Altisource Portfolio Solutions S.A. and Home Loan
Servicing Solutions, Ltd. (HLSS).
On January 23, 2015, Forbes reported that BlueMountain Capital
Management delivered a notice of default against HLSS Servicer
Advance Receivables Trust on the notes BlueMountain Capital owns
that were issued in connection the Trust, citing Ocwen’s regulatory
problems, among other recent actions, that “materially increase the
risk of loss on the Notes that are collateralized by receivables
affected by Ocwen’s standing as a servicer.” Following this news,
shares of Altisource Residential dropped more than 7% in intraday
trading on January 23, 2015.
If you purchased Altisource Residential shares, if you have
information or would like to learn more about these claims, or have
any questions concerning this announcement or your rights or
interests with respect to these matters, please contact Lesley
Portnoy, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century
Park East, Suite 2100, Los Angeles, California 90067 at
310-201-9150, Toll-Free at 888-773-9224, by e-mail to
shareholders@glancylaw.com, or visit our website at
http://www.glancylaw.com. If you inquire by email please include
your mailing address, telephone number and number of shares
purchased.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
Glancy Binkow & Goldberg LLP, Los AngelesLesley Portnoy,
310-201-9150 or 888-773-9224shareholders@glancylaw.comwww.glancylaw.com
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