San Diego, CA -- (SBWIRE) -- 07/29/2013 -- An investor, who purchased shares of Walter Investment Management Corp (NYSE:WAC) filed a lawsuit in the U.S. District Court for the Middle District of Florida over alleged violations of Federal Securities Laws by Walter Investment Management Corp in connection with certain allegedly false and misleading statements made between May 9, 2012 and June 6, 2013.

Investors who purchased a significant amount of shares of Walter Investment Management Corp (NYSE:WAC) between May 9, 2012 and June 6, 2013, and / or those who purchased NYSE:WAC shares prior to May 2012 and currently hold any of those shares, have certain options and for certain investors are short and strict deadlines running. Deadline: Sept. 23, 2013. NYSE:WAC investors should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges on behalf of purchasers of Walter Investment Management Corp (NYSE:WAC) common stock during the period between May 9, 2012 and June 6, 2013, that Walter Investment Management Corp and certain of its officers and directors violated Federal Securities Laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.

More specifically, the plaintiff alleges that defendants made false and/or misleading statements and/or failed to disclose that Walter Investment Management Corp lacked adequate internal controls over financial accounting, that Walter Investment Management’s internal controls were not effective, that Walter Investment Management’s financial statements contained false and misleading statements, that Walter Investment Management Corp had failed to disclose material weaknesses in the internal controls of its recent acquisition Reverse Mortgage Solutions, Inc. ("RMS”0, that Walter Investment Management Corp had overstated the value of RMS, and that as a result of the foregoing, Walter Investment Management’s statements were materially false and misleading at all relevant times.

Walter Investment Management Corp reported that its annual Total Revenue rose from $177.62 million in 2010 to $392.62 million in 2011 and that its Net Income of $37.07 million in 2010 declined to $66.40 million in 2011. Shares of Walter Investment Management Corp (NYSE:WAC) grew from $13.58 per share in early 2010 to as high as $48.81 per share in February 2013.

Then on March 18, 2013, Walter Investment Management Corp announced its results for the fourth quarter and fiscal year 2012 results. Among other things, Walter Investment Management Corp also issued its guidance for 2013.

Shares of Walter Investment Management Corp (NYSE:WAC) declined from $48.95 per share on March 5, 2013 to $32.49 per share in March 22, 2013.

Then on June 6, 2013, on June 6, 2013, Walter Investment Management Corp disclosed in a filing with the SEC that it would be restating certain previously-disclosed historical financial information for Reverse Mortgage Solutions, Inc.

NYSE:WAC shares declined to $31.77 per share on July 9, 2013.

On July 24, 2013, shares of Walter Investment Management Corp closed at $37.99 per share.

Those who purchased a significant amount of shares of Walter Investment Management Corp (NYSE:WAC) between May 9, 2012 and June 6, 2013, and / or those who purchased NYSE:WAC shares prior to May 2012 and currently hold any of those shares, you have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com