NEW YORK, Jan. 21, 2015 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of investors who purchased Altisource Asset Management Corporation ("Altisource" or the "Company") (NYSE MKT:AAMC) securities between April 19, 2013 and January 12, 2015.
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The complaint alleges that during the Class Period defendants misrepresented and/or concealed the Company's relationship with, and conflicted transactions with a group of related companies founded by defendant William C. Erbey.
On December 22, 2014, the Company announced that as part of a settlement between Ocwen Financial Corporation and the New York Department of Financial Services, Erbey would step down as chairman of Altisource's board and from his positions at each related company. Then on January 13, 2015, the California Department of Business Oversight announced that it was seeking to revoke Ocwen's license to operate in the state.
If you suffered a loss in Altisource you have until March 17, 2015 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/altisource-asset-aamc.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (866) 367-6510 www.zlk.com