NEW YORK, Jan. 29, 2015 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A., a global investor rights firm, announced that it has filed a class action lawsuit on behalf of investors who purchased Home Loan Servicing Solutions, Ltd. common stock (Nasdaq:HLSS) between February 7, 2013 and January 23, 2015. The lawsuit seeks to recover investors' losses by asserting claims under the federal securities laws.
To join the Home Loan Servicing Solutions class action, visit the firm's website at http://www.rosenlegal.com/cases-486.html, or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free, at 866-767-3653; you may also email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action. The case is pending the U.S. District Court for the Southern District of New York.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.
Home Loan Servicing Solutions acquires mortgage servicing assets and engages Ocwen Financial Corporation (NYSE:OCN) to service the mortgage loans underlying such assets. According to the lawsuit, the Company made false and/or misleading statements and/or failed to disclose that: (i) the Company's business was dependent on Ocwen and Ocwen conducting its business legally; (ii) the Company's business faced material risks and uncertainties due to the systemic internal control weaknesses at Ocwen; (iii) Ocwen was under investigation for violating applicable federal and state regulations and laws, including among other things, the New York Department of Financial Services' and the state of California's investigation of Ocwen; (iv) the Company was in breach of provisions of its notes held by BlueMountain Capital Management, LLC; and (v) the Company faced material risks if it defaults on its notes. The suit claims that when the truth was revealed, it caused the price of the Company's stock to drop, damaging investors.
If you wish to serve as lead plaintiff, you must move the Court no later than March 30, 2015. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation go to http://www.rosenlegal.com/cases-486.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at pkim@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.