Case Page

 

Case Status:    DISMISSED    
On or around 07/11/2017 (Other)

Filing Date: January 16, 2015

According to the law firm press release, the Complaint alleges that during the Class Period defendants misrepresented and/or concealed the Company's relationship with, and conflicted transactions with, a group of related companies, including Ocwen Financial Corporation, all of which were founded by Defendant. On December 22, 2014, the Company announced that as part of the terms of a settlement that Ocwen had reached with the New York Department of Financial Services (the "New York DFS"), Defendant would be stepping down as chairman of AAMC's board and from his positions at each of the related companies. As part of its investigation, the New York DFS indicated that it had uncovered "serious conflicts of interest between the Related Companies." As a result of this announcement, AAMC's stock price declined over 23% from a closing price of $465.30 per share on December 19, 2014 to close at $356.50 per share on December 22, 2014, on high trading volume. Then, on January 13, 2015, the California Department of Business Oversight announced that it was seeking to revoke Ocwen's license to operate in the state. On this news, the price of AAMC's stock fell over 33% from a closing price of $321.81 per share on January 12, 2015 to close at $214.27 per share on January 13, 2015, on high trading volume.

This case was ordered dismissed on April 6, 2017.

COMPANY INFORMATION:

Sector: Financial
Industry: Investment Services
Headquarters: Virgin Islands

SECURITIES INFORMATION:

Ticker Symbol: AAMC
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: D. Virgin Islands
DOCKET #: 15-CV-00004
JUDGE: Hon. Wilma A. Lewis
DATE FILED: 01/16/2015
CLASS PERIOD START: 04/19/2013
CLASS PERIOD END: 01/12/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. A.J. Weiss & Associates
    6934 Vessup Lane , A.J. Weiss & Associates 00802-1001
    ·
  2. Bernstein Litowitz Berger & Grossmann LLP (Former New York)
    1285 Avenue of the Americas, 33rd Floor, Bernstein Litowitz Berger & Grossmann LLP (Former New York), NY 10019
    212.554.1400 212.554.1444 · blbg@blbglaw.com
No Document Title Filing Date
COURT: D. Virgin Islands
DOCKET #: 15-CV-00004
JUDGE: Hon. Wilma A. Lewis
DATE FILED: 06/19/2015
CLASS PERIOD START: 04/19/2013
CLASS PERIOD END: 01/12/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Colianni & Colianni

    (340) 719-1766 (340) 719-1770 ·
  2. Hagens Berman Sobol Shapiro LLP (New Seattle)
    1918 Eighth Ave. Suite 3300, Hagens Berman Sobol Shapiro LLP (New Seattle), WA 98101
    206.623.7292 206.623.0594 ·
No Document Title Filing Date