The Rosen Law Firm, P.A. and Pomerantz LLP Announce Proposed Class Action Settlement on Behalf of Purchasers of Common Stock of Walter Investment Management Corp. -- WAC

MIAMI, June 29, 2016 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. and Pomerantz LLP announce that the United States District Court for the Southern District of Florida has approved the following announcement of a proposed class action settlement that would benefit purchasers of common stock of Walter Investment Management Corp. WAC:

SUMMARY NOTICE OF PROPOSED CLASS ACTION SETTLEMENT

TO: ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED COMMON STOCK OF WALTER INVESTMENT MANAGEMENT CORP. FROM MAY 9, 2012 THROUGH FEBRUARY 26, 2015, INCLUSIVE.

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Southern District of Florida, that a hearing will be held on October 14, 2016, at 2:00 p.m. before the Honorable Ursula Ungaro, United States District Judge of the Southern District of Florida, 400 North Miami Avenue, Miami, FL 33128, Courtroom # 12B, for the purpose of determining: (1) whether the proposed settlement of the claims in this Action for consideration including the sum of $24,000,000 should be approved by the Court as fair, reasonable, and adequate; (2) whether the proposed plan to distribute the settlement proceeds is fair, reasonable, and adequate; (3) whether the application of Co-Class Counsel for an award of attorneys' fees of up to one third of the Settlement Amount, reimbursement of expenses of not more than $500,000, and an incentive payment of no more than $30,000 in aggregate to Class Representatives, should be approved; and (4) whether this Action should be dismissed with prejudice as set forth in the Stipulation of Settlement dated May 20, 2016 (the "Settlement Stipulation").

If you purchased or otherwise acquired common stock of Walter Investment Management Corp. ("Walter Investment") during the period from May 9, 2012, through February 26, 2015, both dates inclusive (the "Settlement Class"), your rights may be affected by this Settlement, including the release and extinguishment of claims you may possess relating to your ownership interest in Walter Investment common stock.  If you have not received the detailed Notice of Pendency and Proposed Settlement of Class Action ("Notice") and Proof of Claim and Release Form, you may obtain copies by writing to or calling the Claims Administrator at: Walter Investment Management Corp. Securities Litigation, c/o Strategic Claims Services, 600 N. Jackson St., Ste. 3, P.O. Box 230, Media, PA 19063; (Tel) (866)274-4004; (Fax) (610)565-7985; info@strategicclaims.net, or going to the website, www.strategicclaims.net.

If you are a member of the Settlement Class, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release Form postmarked no later than September 1, 2016 to the Claims Administrator, establishing that you are entitled to recovery.

If you desire to be excluded from the Settlement Class, you must submit a request for exclusion so that it is received no later than September 1, 2016, in the manner and form explained in the Notice.  All members of the Settlement Class who have not requested exclusion from the Settlement Class will be bound by any judgment entered in the Action pursuant to the Settlement Stipulation.

Any objection to the Settlement, Plan of Allocation, or Co-Class Counsel's request for an award of attorneys' fees and reimbursement of expenses and award to Class Representatives must be in the manner and form explained in the detailed Notice and mailed to each of the following such that it is received no later than September 28, 2016:

If you have any questions about the Settlement, you may write to Co-Class Counsel at:

PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE.

Dated: June 13, 2016                                     

BY ORDER OF THE UNITED STATES
DISTRICT COURT FOR THE
SOUTHERN DISTRICT OF FLORIDA