BENSALEM, Pa.--(BUSINESS WIRE)--
Law Offices of Howard G. Smith announces an investigation on behalf of investors of Walter Investment Management (“Walter Investment” or the “Company”) (WAC) concerning the Company and its officers’ possible violations of federal securities laws.
On March 14, 2017, The Company disclosed a subpoena from HUD Inspector General for documents and information relating to origination and underwriting of certain specified loans. The Company further disclosed that the Justice Department’s Civil Division is coordinating the investigation, and there is a possibility of a demand or a claim under the False Claims Act. The Company also disclosed a material weakness for Ditech unit and is taking steps to remediate the weakness.
On this news the Company’s shares fell over $1.10 per share, or over 40%, during intraday trading on March 14, 2017.
If you purchased Walter Investment securities, have information or 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 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 firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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