TMCnet News
OCWEN INVESTIGATION INITIATED BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Investigates Ocwen Financial Corp. Following Disclosure of Department of Financial Services Investigation and Analysts DowngradesNEW ORLEANS --(Business Wire)-- Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC ("KSF"), announces that KSF has commenced an investigation into Ocwen Financial Corp. (NYSE: OCN). On August 4, 2014, the New York's Department of Financial Services ("DFS") disclosed that it was investigating whether the Company entered into improper transactions with affiliated entities. According to the DFS, Ocwen entered into an arrangement with Altisource Portfolio Solutions S.A., whose executives have substantial ties to the Company, providing $65 million in questionable fees to Altisource, in a potential conflict of interest. On this news, the Company was downgraded by multiple analysts and the price of Ocwen's shares plumeted. KSF's investigation is focusing on whether Ocwen and/or its officers and directors violated state or federal securities laws. If you are an Ocwen shareholder that has suffered losses related to your investment or have information that would assist KSF in its investigation, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis Kahn ([email protected]) or KSF Partner Melinda Nicholson ([email protected]) toll free at 1-877-515-1850. About Kahn Swick & Foti, LLC KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities class action and shareholder derivative litigation with offices in New York, California and Louisiana. KSF's lawyers have significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders. To learn more about KSF, you may visit www.ksfcounsel.com.
|
