SHAREHOLDER ALERT: Investigation on Behalf of Investors of Home Loan Servicing Solutions, Ltd. Announced by Law Offices of Ho...
January 26 2015 - 10:32AM
Business Wire
Law Offices of Howard G. Smith 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. 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 with 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 if you have any questions
concerning this announcement or your rights or interests with
respect to these matters, please contact Howard G. Smith, Esquire,
of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112,
Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll
Free at (888) 638-4847, or by email to
howardsmith@howardsmithlaw.com, or visit our website at
www.howardsmithlaw.com.
Law Offices of Howard G. SmithHoward G. Smith,
Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com
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