San Diego, CA -- (SBWIRE) -- 06/25/2014 -- An investigation for investors, who currently hold NYSE:OCN shares, over potential breaches of fiduciary duties by certain officers and directors of Ocwen Financial Corp was announced.
Investors who purchased shares of Ocwen Financial Corp (NYSE:OCN) have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns, among other things, whether certain Ocwen Financial officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
On February 27, 2014 an article was published that stated that state and federal regulators are concerned that Ocwen Financial Corp is mishandling some of the mortgages it now services, citing examples of shoddy paperwork and faulty technology. In addition, the article said that regulators are also questioning the unusual arrangements between Ocwen Financial Corp and four other publicly traded companies where Mr. Erbey is chairman.
On April 28, 2014, Ocwen Financial Corporation received a letter from the staff of the New York Regional Office of the SEC informing it that staff of the New York Regional Office of the SEC was conducting an investigation relating to Ocwen Financial Corporation and making a request for voluntary production of documents and information relating to the April 22, 2014 surrender of certain options to purchase Ocwen Financial Corporation common stock by Mr. Erbey, including the 2007 Equity Incentive Plan and the related option grant and surrender documents.
NYSE:OCN shares declined from $59.97 per share in October 2013 to as low as $31.85 per share in May 2014.
On June 23, 2014, NYSE:OCN shares closed at $38.40 per share.
Those who purchased shares of certain Ocwen Financial Corp have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego