Track topics on Twitter Track topics that are important to you
NEW YORK, July 24, 2015 (GLOBE NEWSWIRE) -- The Rosen Law Firm, a global investor rights firm, reminds purchasers of Nationstar Mortgage Holdings Inc. (NYSE:NSM) common stock from February 27, 2014 through May 4, 2015, of the important August 3, 2015 lead plaintiff deadline in the class action lawsuit. The lawsuit seeks to recover investors' losses under the federal securities laws.
To join the Nationstar class action, visit the firm's website at http://www.rosenlegal.com/cases-630.html or contact Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or via email at email@example.com or firstname.lastname@example.org for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.
The complaint alleges that Nationstar made false and/or misleading statements, and failed to disclose material adverse facts about the Company's business, operations, prospects and performance. Specifically, the Complaint alleges that Defendants issued materially false and misleading statements about the Company's business results and future financial prospects. The Complaint alleges that the Company claimed to be improving its profitability as a result of increased servicing revenue on its exponentially expanding MSR portfolio, leading to servicing fee profits, and as a result of profits being "earned" by its Solutionstar subsidiary, with which it had contracted to provide various loan services. However, the Complaint alleges that Nationstar failed to disclose deficiencies in management control and supervision necessary to ensure the Company's compliance with applicable laws and regulations in connection with the servicing of MSRs, and that Nationstar had been overcharging mortgagors and illegally enhancing its profits through illicit practices, such as charging for repeated, unnecessary inspections, which resulted in additional late payment fees, and pressuring mortgagors to carry out expensive modifications and refinances on their mortgages.
On May 5, 2015, Nationstar issued disappointing first quarter 2015 financial results. The Company reported a net loss of $48.3 million, or ($0.53) per share as the Company's revenues fell 15% year-over-year. When the true details entered the market, shares of Nationstar fell to $19.51 per share on May 5, 2015, damaging investors.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than August 3, 2015. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to the firm's website at http://www.rosenlegal.com/cases-630.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll-free at 866-767-3653 or via e-mail at email@example.com or firstname.lastname@example.org.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
CONTACT: Laurence Rosen, Esq. Phillip Kim, Esq. Kevin Chan, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 34th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 email@example.com firstname.lastname@example.org email@example.com www.rosenlegal.comNEXT ARTICLE
The Top 100 Pharmaceutical Companies
Top 10 biotech and pharmaceutical companies worldwide based on market value in 2015 2015 ranking of the global top 10 biotech and pharmaceutical companies based on revenue (in billion U.S. dollars) Johnson & Johnson, U.S. 74...