INVESTOR ALERT: Class Action Lawsuit Against Altisource Residential Corporation Announced By Glancy Binkow & Goldberg LLP
31 Mars 2015 - 3:26AM
Business Wire
Glancy Binkow & Goldberg LLP announces that a class
action lawsuit has been filed in the United States District Court
for the District of the Virgin Islands on behalf of a class (the
“Class”) comprising purchasers of the securities of Altisource
Residential Corporation (“RESI” or the “Company”) (NYSE:RESI)
between February 7, 2013 and January 23, 2015, inclusive (the
“Class Period”).
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). The complaint alleges that the
Company failed to fully disclose its exposure to loss of revenue,
government investigations, and other issues associated with its
relationship to Ocwen, Erbey and other related parties.
If you are a member of the Class described above, you may move
the Court no later than May 26, 2015, to serve as lead plaintiff,
if you meet certain legal requirements. To be a member of the Class
you need not take any action at this time; you may retain counsel
of your choice or take no action and remain an absent member of the
Class. If you wish to learn more about this action, or if
you 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, 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
Portnoy310-201-9150888-773-9224shareholders@glancylaw.comwww.glancylaw.com
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