University of Puerto Rico Reti v. Ocwen Financial Corporation, et al
Case Number:
18-12250
Court:
Nature of Suit:
3850 Securities, Commodities, Exchange
Sectors & Industries:
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August 15, 2019
11th Circ. Won't Revive Suit Over Ocwen's Software Problems
An Eleventh Circuit panel ruled Thursday that a lower court was correct to ditch a proposed class action brought by a pension fund against mortgage servicer Ocwen Financial Group because the company's alleged misstatements over its software were too vague to have credibly breached federal securities laws.
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June 12, 2019
Investors Ask 11th Circ. To Revive Ocwen Omissions Suit
Investors tried Wednesday to revive a securities fraud class suit accusing Ocwen Financial Group of issuing misleading statements about its regulatory compliance, but an Eleventh Circuit panel appeared skeptical that the statements in question were nothing more than nonactionable corporate puffery.