Law firm files class-action suit against Ocwen
A Florida law firm, Saxena White, filed a class-action federal lawsuit against Ocwen Financial Corp.
The suit was filed in U.S. District Court in Florida on behalf of investors who bought stock in the Atlanta mortgage servicing firm in 2013 and 2014.
The suit claims Ocwen violated the federal securities laws by failing to adequately disclose the nature of its relationship with Altisource Portfolio Solutions and by overstating the company’s financial results.
The price of Ocwen stock has fallen by about a third in the last three months, following a series announcements regarding the company’s financial condition, the suit says.
About the Author
Christopher Quinn is a writer and editor who has worked for The Atlanta Journal-Constitution since 1999. He writes stories on Veterans Affairs, business including high-tech growth in metro Atlanta, Georgia's $72 billion farm economy, and he oversees assigning and editing news obituaries.
