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INVESTOR ALERT: Class Action Lawsuit Against Ocwen Financial Corporation Announced by Glancy Binkow & Goldberg LLP

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Glancy Binkow & Goldberg LLP announces that a class action lawsuit has been filed in the United States District Court for the Southern District of Florida on behalf of a class (the “Class”) comprising purchasers of the common stock of Ocwen Financial Corporation (“Ocwen” or the “Company”) (NYSE:OCN) between May 2, 2013 and August 11, 2014, inclusive (the “Class Period”). Investors who have losses of $100,000 or more are encouraged to contact the firm for more information.

Please contact Lesley Portnoy at (888) 773-9224 or (310) 201-9150, or at to discuss this matter. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

Ocwen, through its subsidiaries, originates and services mortgage loans in the United States and internationally. The Complaint alleges that defendants misrepresented or failed to disclose that Ocwen’s mortgage servicing practices violated applicable regulations and laws, that the Company’s executives allowed a related company – Altisource Portfolio Solutions, S.A. – to impose unreasonable rates for services provided to Ocwen, and that the chairman and other directors and officers were directly involved in approving Ocwen’s conflicted transactions with Altisource. The Complaint further alleges that the Company’s financial results were artificially inflated during the Class Period, resulting in a restatement of the Company’s financial results.

On August 12, 2014, Ocwen disclosed that the board of directors and the audit committee of the board of directors determined that the Company’s financial statements for the fiscal year ended December 31, 2013, and the quarter ended March 31, 2014, can no longer be relied upon and will be restated. According to the Company, “the anticipated impact of the adjustments are expected to result in an increase in pre-tax income for the year ended December 31, 2013 of approximately $17 million and a reduction in pre-tax income in the first quarter of 2014 by a corresponding amount.”

If you are a member of the Class described above, you may move the Court no later than 60 days from August 12, 2014, to serve as lead plaintiff, if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you suffered losses of $100,000 or more and wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, at (310) 201-9150, by e-mail to, or visit our website at If you inquire by email, please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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