Walter Investment Management receives class action lawsuit

A law firm recently came forward to inform shareholders of an investment firm that there was a securities class action lawsuit against the company.

Gainey McKenna and Egleston noted that this lawsuit was filed in the U.S. District Court for the Southern District of Florida against Walter Investment Management Corp. This includes all shareholders who purchased securities during the class period between May 9, 2012, and Feb. 26, 2014.

The lawsuit made multiple allegations against the company, including that the firm did not have the proper controls over its accounting practices that would keep it in compliance with multiple laws, and the measures that were in place were not good enough. Walter Investment also had a number of statements that may have been false or misleading regarding their finances.

Further allegations included the company violating laws due to the inaccurate valuation of purchasing RMS, while it also did not inform investors about that entity's internal control issues. 

Shareholders who are interested in becoming lead plaintiff in the case need to speak with the court by May 6, 2014. However, this is not mandatory for those who own stock and want to remain an absent class member.

It is also possible for stockholders to ask the law office questions about the case, their rights and the process as a whole. Both Gregory Egleston and Thomas McKenna are available to field questions, and they can be reached by telephone or email.

Second lawsuit filed
Another law office recently noted that a class action claim was filed against Walter Investments for the same class period.

The Rosen Law Firm, P.A., filed the litigation on behalf of shareholders due to allegations that the company violated securities laws. The office explained that there has yet to be a class certified in the case, and the lawsuit is currently pending in court. Shareholders may opt to work with this law firm through the process.

It is also possible for shareholders to speak with this law firm regarding the case as a whole, the lead plaintiff position, interests and any other rights issues. Both Phillip Kim and Kevin Chan are available to be contacted, and they can be reached by telephone or email. It is also an option to visit the law firm's website to read more information, including ways to join the suit.