The Shuman Law Firm Investigates Altisource Residential Corp.
2014年4月11日 - 2:47AM
ビジネスワイヤ(英語)
The Shuman Law Firm announces that it is investigating potential
claims against certain officers and directors of Altisource
Residential Corp. (“Altisource” or the “Company”) (NYSE: RESI).
Altisource acquires, owns, and manages single-family rental
properties in the United States.
The Firm’s investigation relates to allegations raised in a
March 19, 2014, Glaucus Research article published on Seeking Alpha
challenging the fees paid by Altisource to the Company's asset
manager, Altisource Asset Management Corporation ("AAMC").
Altisource pays a quarterly "incentive fee" to AAMC for managing
the company's portfolio of non-performing mortgages and foreclosed
single-family homes. According to the Glaucus Research article, in
the fourth quarter of 2013, AAMC received an incentive fee equal to
32% of Altisource’s dividends paid to shareholders. Glaucus
Research estimated that incentive fee to be four to seven times
greater than the compensation similar asset managers receive. In
addition, the article suggests that AAMC's management has a
conflict of interest as it serves as the asset manager for
Altisource Residential and shares certain executives with the
company. Both Altisource and AAMC are run by the same Chairman,
William C. Erbey.
If you currently own Altisource common stock and are interested
in discussing your rights, or have information relating to this
investigation, please contact Kip B. Shuman or Rusty E. Glenn toll
free at (866) 974-8626 or email Mr. Shuman at kip@shumanlawfirm.com
or email Mr. Glenn at rusty@shumanlawfirm.com.
The Shuman Law Firm represents investors throughout the nation,
concentrating its practice in stockholder litigation.
The Shuman Law FirmKip B. Shuman, Esq.,
866-974-8626kip@shumanlawfirm.comorRusty E. Glenn, Esq.,
866-974-8626rusty@shumanlawfirm.comFax:
303-484-4886www.shumanlawfirm.com
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