NEW ORLEANS -- (Business Wire)
Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney
General of Louisiana, Charles C. Foti, Jr., remind investors that they
have until March 17, 2015 to file lead plaintiff applications in
a securities class action lawsuit against Altisource Asset Management
Corporation (NYSE: AAMC) if they purchased the Company’s securities
between April 19, 2013 to January 12, 2015, inclusive (the “Class
Period”). This action is pending in the United States District Court for
the Virgin Islands.
What You May Do
If you purchased shares of Altisource and would like to discuss your
legal rights and how this case might affect you and your right to
recover for your economic loss, you may, without obligation or cost to
you, call toll-free at 1-877-515-1850 or email KSF Managing Partner
Lewis Kahn (lewis.kahn@ksfcounsel.com).
If you wish to serve as a lead plaintiff in this class action, you must
petition the Court by March 17, 2015.
About the Lawsuit
Altisource and certain of its executives are charged with
misrepresenting and/or concealing Altisource’s relationship and
conflicted transactions with a group of related companies during the
Class Period, violating federal securities laws.
On December 22, 2014, Altisource announced that pursuant to a settlement
that Ocwen Financial Corporation had reached with the New York
Department of Financial Services, which had uncovered “serious conflicts
of interest between the Related Companies,” Defendant William Erbey
would be stepping down as chairman of Altisource’s board and from his
positions at the related companies, which he had founded. On this news,
the price of Altisource’s stock fell by over 23%.
Then, on January 13, 2015, the California Department of Business
Oversight announced that it was seeking to revoke Ocwen's license. On
this news, the price of Altisource's stock plummeted by over 33%.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana
Attorney General, Charles C. Foti, Jr., and other lawyers with
significant experience litigating complex securities class actions
nationwide on behalf of both institutional and individual shareholders,
you may visit www.ksfcounsel.com.
Contacts:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner,
877-515-1850
lewis.kahn@ksfcounsel.com
Source: Kahn Swick & Foti, LLC
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