Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, announces that a federal class action lawsuit has been filed against Ocwen Financial Corporation (“Ocwen” or “Company”) (NYSE: OCN) and several officers and directors for acts taken during the period of May 11, 2015 and April 19, 2017 (the “Class Period”).
Based upon the allegations in the class action, the firm is investigating additional legal claims against the officers and Board of Directors of Ocwen. If you are an affected Ocwen shareholder and want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC via email at firstname.lastname@example.org or call toll free at (888) 809-2750. There is no cost or fee to you.
According to the complaint, the defendants are alleged to have violated certain provisions of the Securities Exchange Act of 1934. Specifically, the complaint alleges, among other things, that defendants issued false and/or misleading statements and/or failed to disclose the following: (1) that Ocwen engaged in significant and systemic misconduct at nearly every stage of the mortgage servicing process; (2) that this conduct would subject Ocwen to heightened regulatory scrutiny and potential criminal sanctions; and (3) that as a result of the above, Ocwen’s public statements were materially false and misleading at all relevant times. The U.S. Consumer Financial Protection Bureau announced on April 20, 2017, that it was suing Ocwen and several states issued cease-and-desist orders against the company. Ocwen stock dropped significantly immediately following this announcement.
The Briscoe Law Firm, PLLC is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.