Glancy Prongay & Murray LLP announces that it is investigating potential claims on behalf of investors of Nationstar Mortgage Holdings Inc. ("Nationstar" or the "Company") NSM. Investors who purchased Nationstar securities prior to May 5, 2015 are encouraged to contact Lesley Portnoy, at (888) 773-9224 or (310) 201-9150, or at shareholders@glancylaw.com to discuss this matter. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
The investigation focuses on whether the Company misled investors, and/or failed to disclose material adverse facts about the Company's business, operations, prospects and performance. Nationstar generates revenues primarily through its loan servicing business, during the relevant period the Company allegedly misled investors into believing that it was improving its profitability as a result of increased servicing revenue on its expanding loan portfolio. Unbeknownst to investors, Nationstar allegedly engaged in unethical and allegedly illegal behavior in connection with servicing the loan portfolio. The complaint alleges Nationstar had been overcharging borrowers 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, on revenues that had fallen 15% year-over-year. On this news, shares of Nationstar fell by over $6.60 to close at $19.51 per share on May 5, 2015.
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View source version on businesswire.com: http://www.businesswire.com/news/home/20150625006077/en/
Glancy Prongay & Murray LLP,
Lesley Portnoy
Casey Sadler
(310)
201-9150
(888) 773-9224
shareholders@glancylaw.com
www.glancylaw.com
1925
Century Park East, Suite 2100
Los Angeles, CA 90067
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