|[August 08, 2014]
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 Downgrades
NEW 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.
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 (firstname.lastname@example.org)
or KSF Partner Melinda Nicholson (email@example.com)
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.
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