Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until March 17, 2015 to file lead plaintiff applications in a securities class action lawsuit against Altisource Asset Management Corporation (NYSE: AAMC) if they purchased the Company’s securities between April 19, 2013 to January 12, 2015, inclusive (the “Class Period”). This action is pending in the United States District Court for the Virgin Islands.
What You May Do
If you purchased shares of Altisource and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by March 17, 2015.
About the Lawsuit
Altisource and certain of its executives are charged with misrepresenting and/or concealing Altisource’s relationship and conflicted transactions with a group of related companies during the Class Period, violating federal securities laws.
On December 22, 2014, Altisource announced that pursuant to a settlement that Ocwen Financial Corporation had reached with the New York Department of Financial Services, which had uncovered “serious conflicts of interest between the Related Companies,” Defendant William Erbey would be stepping down as chairman of Altisource’s board and from his positions at the related companies, which he had founded. On this news, the price of Altisource’s stock fell by over 23%.
Then, on January 13, 2015, the California Department of Business Oversight announced that it was seeking to revoke Ocwen's license. On this news, the price of Altisource's stock plummeted by over 33%.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.
Lewis Kahn, Managing Partner, 877-515-1850