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INVESTOR ALERT: Class Action Lawsuit Against Altisource Portfolio Solutions S.A. 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 Altisource Portfolio Solutions S.A. (“Altisource” or the “Company”) (NASDAQ:ASPS) between July 25, 2013 and August 4, 2014, inclusive (the “Class Period”).

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.

Altisource operates as a marketplace and transaction solutions provider for the real estate, mortgage and consumer debt industries in the United States. The Complaint alleges that: (1) Altisource was charging exorbitant fees to Ocwen Financial Corp., to enable defendants to funnel as much as $65 million in questionable fees; (2) despite public representations to the contrary, the Company’s chairman was personally involved in approving conflicted transactions with Altisource and other related entities which he controlled; (3) the Company failed to comply with applicable laws and regulations, including lending regulations designed to protect homeowners; (4) the Company’s financial statements during the Class Period were artificially inflated and did not provide a fair presentation of the Company’s finances and operations; (5) the Company lacked adequate internal and financial controls; and (6) as a result of the foregoing, the Company’s financial statements were materially false and misleading at all relevant times.

On August 4, 2014, news reports disclosed that New York’s Department of Financial Services (“DFS”) was investigating whether the Company entered into improper transactions with affiliated entities. According to the DFS, it appears that Altisource entered into an arrangement with Ocwen that will generate significant revenue from Ocwen’s new forced-place arrangement while requiring little work on Altisource’s behalf. Following this news, shares of Altisource declined nearly 15%, to a closing price of $88.65 on August 4, 2014, on heavy volume.

If you are a member of the Class described above, you may move the Court no later than November 7, 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 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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