NEW YORK, March 31, 2015 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Altisource Residential Corporation ("RESI" or the "Company") (NYSE:RESI) and certain of its officers. The class action, filed in United States District Court, District of the Virgin Islands, Division of St. Croix, is on behalf of a class consisting of all persons or entities who purchased RESI securities between February 7, 2013 and January 23, 2015, inclusive (the "Class Period"). This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the "Exchange Act").

If you are a shareholder who purchased RESI securities during the Class Period, you have until May 26, 2015 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll free, x237. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and number of shares purchased.

Altisource Residential Corporation, through its subsidiary, Altisource Residential, L.P., focuses on acquiring, owning, and managing single-family rental properties in the United States.

The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose: (1) the full scope of its reliance on Ocwen Financial Corporation ("Ocwen"), a related party and the risks relating to its relationship with Ocwen; and (2) the full scope of its related party relationship with the Company.

On February 26, 2014, the NY DFS sent a letter to Ocwen concerning the conflict of interest of Defendant Erbey's empire of RESI, AAMC, Ocwen and HLSS. On the publication, release and reporting of this letter, the price of RESI securities fell by $1.95, or over 7%, closing at $24.49 on February 25, 2014.

On December 22, 2014 Ocwen issued a press release entitled "Ocwen Financial Agrees to Settlement with New York Dept. of Financial Services." The press release details how the NY DFS's investigation of Ocwen was settled by a Consent Order. Also on December 22, 2014, RESI filed a Form 8-K with the SEC with a press release as an exhibit stating that Defendant Erbey was stepping down as Director and Chairman of the Board of RESI effective January 16, 2015. The 8-K states that Defendant Erbey was abdicating his position "in connection with the Consent Order entered into by Ocwen Financial Corporation with the New York Department of Financial Services." On the news of Ocwen's settlement and signed Consent Order with the NY DFS and Defendant Erbey's departure from RESI, the Company's securities fell by $1.37 per share, or about 7%, closing at $18.65 December 22, 2014.

On January 13, 2015, it was revealed that California regulators are seeking to suspend Ocwen's mortgage license. Investor's Business Daily published an article, "Ocwen Financial's Calif. Woes Sink Shares" detailing the California regulators' position. On the news that California regulators were proceeding to suspend Ocwen's mortgage license, RESI's securities fell by $1.08 from the previous day, or about 6%, closing at $16.76 on January 13, 2015.

On January 23, 2015, BlueMountain Capital Management, LLC ("BlueMountain"), a hedge fund, sent a notice of default to HLSS and Ocwen on certain notes HLSS serviced. Due to recent regulatory sanctions against Ocwen, which also had an impact on HLSS, it constituted a breach and a default under the terms of the lending agreement. HLSS defaulted on notes worth about $1 billion.

Later in the day of January 23, 2015, Forbes published an article "Ocwen Financial Keeps California Mortgage License, Sued by Bondholders" that discussed a settlement between Ocwen and the DBO and the notice of default it received from BlueMountain. On the news of HLSS defaulting on the notes with BlueMountain, RESI securities fell by $0.35, closing at $18.04 on January 23, 2015.

The Pomerantz Firm, with offices in New York, Chicago, Florida, and San Diego, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT: Robert S. Willoughby
         Pomerantz LLP
         rswilloughby@pomlaw.com