NEW YORK, July 25, 2017 (GLOBE NEWSWIRE) -- Stull, Stull & Brody ("SS&B") announces that a shareholder derivative lawsuit was commenced in the United States District Court for the Eastern District of Pennsylvania against officers and directors of Walter Investment Management Corp. (NYSE:WAC) (“Walter Investment” or the “Company”). If you own the common stock of Walter Investment you may contact Stull, Stull & Brody to discuss your rights.
The shareholder complaint alleges that certain of the Company’s officers and directors breached their fiduciary duties and were unjustly enriched between May 3, 2016 and at least June 22, 2017, and caused substantial harm to the Company. The complaint also alleges that defendants issued false and/or misleading statements and/or failed to disclose that: (a) the Company was involved in fraudulent practices that violated the False Claims Act; (b) the Company’s Ditech subsidiary had a material weakness in its internal controls over financial reporting; and (c) the Company lacked adequate internal controls over financial reporting.
If you have any questions concerning this notice or your rights or interests with respect to these matters, you may contact Stull, Stull & Brody, Attn: Jason D’Agnenica, Esq., at wac@ssbny.com, or by telephone at 1-212-687-7230 x145.
SS&B has litigated class actions for violations of securities laws and breaches of fiduciary duty on behalf of defrauded investors over the past 40 years and has obtained court approval of substantial settlements on numerous occasions. SS&B has offices in New York and Beverly Hills. SS&B’s website (www.ssbny.com) has additional information about the firm.
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