Company Website:
http://www.bespc.com
NEW YORK -- (Business Wire)
Bragar Eagel & Squire, P.C. announces that a class action lawsuit has
been filed in the U.S. District Court for the Southern District of
Florida on behalf of all persons or entities who purchased or otherwise
acquired Ocwen Financial Corporation (NYSE:OCN) securities between May
11, 2015 and April 19, 2017 (the “Class Period”). Investors have until
June 20, 2017, to apply to the Court to be appointed as lead plaintiff
in the lawsuit.
The Complaint alleges that throughout the Class Period, Defendants made
false and/or misleading statements and/or failed to disclose that Ocwen
engaged in significant misconduct throughout the mortgage servicing
process and when the misconduct became known, it would subject the
Company to heightened regulatory scrutiny and potential criminal
sanctions. As a result of the foregoing, Ocwen’s public statements were
materially false and misleading throughout the Class Period.
On April 20, 2017, the U.S. Consumer Financial Protection Bureau issued
a press release entitled “CFPB Sues Ocwen for Failing Borrowers
Throughout Mortgage Servicing Process,” reporting that the Company had
generated errors in borrowers’ accounts, failed to credit payments,
illegally foreclosed on homeowners, and charged borrowers for add-on
products without their consent.
On the same day, the North Carolina Office of the Commissioner of Banks
and state regulators from more than twenty states issued orders to
Ocwen’s subsidiaries to address the Company’s mishandling of consumer
escrow accounts and a deficient financial condition.
On this news, Ocwen’s share price fell $2.91, or 53.89%, to close at
$2.49 on April 20, 2017.
If you purchased or otherwise acquired Ocwen securities during the Class
Period or continue to hold shares purchased prior to the Class Period,
have information, would like to learn more about these claims, or have
any questions concerning this announcement or your rights or interests
with respect to these matters, please contact Brandon Walker or Melissa
A. Fortunato by email at investigations@bespc.com,
or telephone at (212) 355-4648, or by filling
out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating
in commercial and securities litigation. For additional information
concerning the Ocwen lawsuit, please go to www.bespc.com/ocn.
For additional information about Bragar Eagel & Squire, P.C., please go
to www.bespc.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170424006653/en/
Contacts:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa
A. Fortunato, Esq.
212-355-4648
investigations@bespc.com
www.bespc.com
Source: Bragar Eagel & Squire, P.C.
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