San Diego, CA -- (SBWIRE) -- 02/08/2012 -- The Shareholders Foundation announces that an investigation on behalf of investors in shares of PHH Corporation (NYSE:PHH) was launched over potential securities laws violations by certain officers and directors at PHH Corp. relating to a probe by the Consumer Financial Protection Bureau.
Investors who purchased shares of PHH Corporation (NYSE:PHH) and currently hold those NYSE:PHH shares, have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of PHH Corp (Public, NYSE: PHH) concerning whether the company, certain of its officers and directors, or others have possibly violated federal securities laws. Specifically, the investigation concerns whether certain statements PHH Corporation’s business, its prospects and its operations were potentially materially false and misleading at the time they were made.
On Jan. 10, 2012, PHH Corp. disclosed that in January 2012, the Consumer Financial Protection Bureau (the “CFPB”) notified PHH Corp. that the Consumer Financial Protection Bureau had opened an investigation to determine whether mortgage insurance premium ceding practices to the PHH Corp’s captive reinsurers comply with the Real Estate Settlement Procedures Act and other laws enforced by the Consumer Financial Protection Bureau and requested certain related documents and information for review.
NYSE:PHH shares closed at $10.23 per share less than 50% its current 52weekHigh of $25.30 per share.
Those who purchased shares of PHH Corporation (Public, NYSE:PHH), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego