LOS ANGELES -- (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.
Contacts:
Glancy Binkow & Goldberg LLP, Los Angeles
Lesley Portnoy
310-201-9150
888-773-9224
shareholders@glancylaw.com
www.glancylaw.com
Source: Glancy Binkow & Goldberg LLP
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