An investigation for investors in Ocwen Financial Corp (NYSE:OCN) shares over potential securities laws violations by Ocwen Financial Corp was announced and NYSE:OCN stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 08/12/2014 -- An investigation on behalf of investors in shares of Ocwen Financial Corp (NYSE:OCN) was announced concerning whether Ocwen Financial Corp potential violated Federal Securities Laws.
Investors who purchased shares of Ocwen Financial Corp (NYSE:OCN) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses concerns whether certain statements by Ocwen Financial Corp regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Shares of Ocwen Financial Corp (NYSE:OCN) grew from $8.76 per share in October 2010 to as high as $59.97 per share in October 2013.
On February 27, 2014, Ocwen Financial Corp announced its operating results for the fourth quarter and full year 2013. Ocwen Financial Corp reported that its annual Total Revenue rose from $845.20 million in 2012 to over $2.03 billion in 2013 and that its Net Income increased from $180.82 million in 2012 to $294.15 million in 2013.
Shares of Ocwen Financial Corp (NYSE:OCN) declined from almost $60 per share in October 2013 to as low as $31.85 per share in May 2014.
Then on August 4, 2014, the New York's Department of Financial Services disclosed that it was investigating whether Ocwen Financial Corp entered into improper transactions with affiliated entities. According to the New York's Department of Financial Services, Ocwen Financial Corp entered into an arrangement with Altisource Portfolio Solutions S.A., whose executives have substantial ties to Ocwen Financial Corp, which raises concerns about whether such transactions were priced fairly and conducted at arm's-length.
Shares of Ocwen Financial Corp (NYSE:OCN) declined to as low as $25.37 per share on August 7, 2014.
On August 8, 2014, NYSE:OCN shares closed at $26 per share.
Those who purchased shares of Ocwen Financial Corp (NYSE:OCN), have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com