NEW ORLEANS, Aug. 29, 2014 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until October 14, 2014 to file lead plaintiff applications in a securities class action lawsuit against Ocwen Financial Corp. (NYSE:OCN), if they purchased the Company's securities during the period between May 2, 2013 through August 11, 2014, inclusive (the "Class Period"). This action is pending in the United States District Court for the Southern District of Florida.
What You May Do
If you purchased shares of Ocwen and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by October 14, 2014.
About the Lawsuit
Ocwen and certain of its executives are charged with issuing a series of materially false and misleading statements during the Class Period, violating federal securities laws.
These false statements and omissions included, in part, that: (i) Altisource Portfolio Solutions, S.A., a company of which Ocwen's Chairman of the Board owns approximately 27% of its shares, was charging exorbitant fees to Ocwen to enable Defendants to funnel as much as $65 million in questionable fees; (ii) Ocwen's Chairman was personally involved in approving conflicted transactions with Altisource and other related entities which he controlled; (iii) the Company failed to comply with applicable laws and regulations, including lending regulations designed to protect homeowners; and (iv) the Company's financial statements during the Class Period were artificially inflated.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC Lewis Kahn, Managing Partner 1-877-515-1850 206 Covington St. Madisonville, LA 70447