INVESTOR ALERT: Investigation of Home Loan Servicing Solutions, Ltd. Announced by Glancy Binkow & Goldberg LLP
January 23 2015 - 7:32PM
Business Wire
Glancy Binkow & Goldberg LLP announces that it is
investigating potential claims on behalf of investors of Home Loan
Servicing Solutions, Ltd. (“HLSS” or the “Company”) (NASDAQ:HLSS)
concerning possible violations of federal securities laws. The
investigation is focused on certain statements issued by HLSS
concerning the Company’s business and financial condition.
Please contact Lesley Portnoy at (888) 773-9224 or (310)
201-9150, or at shareholders@glancylaw.com to discuss this matter.
If you inquire by email please include your mailing address,
telephone number and number of shares purchased.
HLSS engages in the acquisition of mortgage servicing assets,
including servicing advances, mortgage servicing rights, rights to
mortgage servicing rights, and other related assets. On December
22, 2014, the Company announced that William C. Erbey will be
stepping down as non-executive Chairman of the Board of Directors
of HLSS effective January 16, 2015. Erbey also stepped down from
his post as executive chairman of Ocwen Financial Corporation
following an investigation by New York State regulatory authorities
that alleged conflicts of interests involving financial
transactions involving Ocwen and related companies with financial
ties to Ocwen, including HLSS, Altisource Portfolio Solutions S.A.
and Altisource Residential Corporation.
On January 23, 2015, Forbes reported that BlueMountain Capital
Management delivered a notice of default against HLSS Servicer
Advance Receivables Trust on the notes BlueMountain Capital owns
that were issued in connection the Trust, citing Ocwen’s regulatory
problems, among other recent actions, that “materially increase the
risk of loss on the Notes that are collateralized by receivables
affected by Ocwen’s standing as a servicer.” Following this news,
shares of HLSS dropped more than 10% in intraday trading on January
23, 2015.
If you purchased HLSS shares, if you have information or would
like to learn more about these claims, or have any questions
concerning this announcement or your rights or interests with
respect to these matters, please contact Lesley Portnoy, Esquire, of Glancy Binkow & Goldberg LLP,
1925 Century Park East, Suite 2100, Los Angeles, California 90067
at (310) 201-9150, Toll Free at (888) 773-9224, by e-mail to
shareholders@glancylaw.com, or visit our website at
http://www.glancylaw.com. If you inquire by email please include
your mailing address, telephone number and number of shares
purchased.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
Glancy Binkow & Goldberg LLP, Los Angeles, CALesley
Portnoy(310) 201-9150(888) 773-9224shareholders@glancylaw.comwww.glancylaw.com
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