A Florida district court recently dismissed a class-action securities lawsuit filed against Ocwen Financial Corp.
The case, led by the University of Puerto Rico Retirement System alleged that Ocwen made materially false and misleading statements and omissions about its servicing technology, which later led to regulatory enforcement actions. As a result, stockholders saw the company’s shares fall 80 percent over a three-month span.
Read on for details of the court’s decision and reaction from Ocwen.
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