SHAREHOLDER ALERT: Investigation on Behalf of Altisource Portfolio Solutions
S.A. Investors Announced by Law Offices of Howard G. Smith
BENSALEM, Pa. -- August 18, 2014
Law Offices of Howard G. Smith announces that it is investigating potential
claims on behalf of investors of Altisource Portfolio Solutions S.A.
(“Altisource” or the “Company”) (NASDAQ:ASPS). The investigation concerns
possible violations of federal securities laws and focuses on statements
issued by the Company concerning Altisource’s business and financial
Altisource operates as a marketplace and transaction solutions provider for
the real estate, mortgage and consumer debt industries in the United States.
The investigation relates to the August 4, 2014, disclosure that New York’s
Department of Financial Services (“DFS”) was investigating whether the Company
entered into improper transactions with affiliated entities. According to the
DFS, it appears that Altisource entered into an arrangement with Ocwen
Financial Corp., whose executives have substantial ties to the Company, that
will generate significant revenue from Ocwen’s new forced-place arrangement
while requiring little work on Altisource’s behalf. Following Altisource this
news, shares of Altisource declined more than 13% in intraday trading.
If you purchased shares of Altisource, if you have information or would like
to learn more about these claims, or if you have any questions concerning this
announcement or your rights or interests with respect to these matters, please
contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070
Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215)
638-4847, Toll Free at (888) 638-4847, or by email to
email@example.com, or visit our website at
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
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