The complaint alleges that throughout the class period Walter Investment made materially false and misleading statements about its financial condition, largely because: (1) the Company was involved fraudulent practices that violated the False Claims Act; (2) the Company’s Ditech subsidiary had a material weakness in its internal control over operational processes; and (3) as a result, the Company lacked adequate internal controls over financial reporting.
Shareholders have until May 15, 2017 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.