BENSALEM, Pa. -- (Business Wire)
Law
Offices of Howard G. Smith announces that a class action lawsuit has
been filed on behalf of investors who purchased Ocwen Financial
Corporation (“Ocwen” or the “Company”) (NYSE: OCN)
securities between May 11, 2015 and April 19, 2017, inclusive
(the “Class Period”). Ocwen investors have until June 20, 2017 to
file a lead plaintiff motion.
Investors suffering losses on their Ocwen investments are encouraged to
contact the Law Offices of Howard G. Smith to discuss their legal rights
in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
On April 20, 2017, the Consumer Financial Protection Bureau announced
that it is filing a lawsuit against Ocwen seeking compensation for
consumers due to “years of systemic and significant errors throughout
the mortgage servicing process, which cost some of them their homes.” On
this news, shares of Ocwen fell more than 50% to close on April 20, 2017
at only $2.49 per share, thereby injuring investors.
According to the Complaint filed in this class action lawsuit,
throughout the Class Period, Defendants made materially false and
misleading statements regarding the Company’s business, operational and
compliance policies. Specifically, Defendants made false and/or
misleading statements and/or failed to disclose that: (i) Ocwen engaged
in significant and systemic misconduct at nearly every stage of the
mortgage servicing process; (ii) the foregoing conduct, when it became
known would subject the Company to heightened regulatory scrutiny and
potential criminal sanctions; (iii) as a result of the foregoing,
Ocwen’s public statements were materially false and misleading at all
relevant times.
If you purchased shares of Ocwen during the Class Period you may move
the Court no later than June 20, 2017 to ask the Court to
appoint you 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 Howard G. Smith,
Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite
112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847,
toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com,
or visit our website at http://www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170424006474/en/
Contacts:
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
Source: Law Offices of Howard G. Smith
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