SOURCE: Kahn Swick & Foti, LLC

July 03, 2015 21:59 ET

NATIONSTAR SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Reminds Investors With Losses in Excess of $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Nationstar Mortgage Holdings Inc. - NSM

NEW ORLEANS, LA--(Marketwired - Jul 3, 2015) - Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until August 3, 2015 to file lead plaintiff applications in a securities class action lawsuit against Nationstar Mortgage Holdings Inc. (NYSE: NSM) if they purchased the Company's securities between February 27, 2014 and May 4, 2015, inclusive (the "Class Period"). This action is pending in the United States District Court for the Southern District of Florida.

What You May Do

If you purchased shares of Nationstar and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by August 3, 2015.

About the Lawsuit

Nationstar and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws. 

The complaint alleges that the value of Nationstar's stock began to decline in late 2014 due to a series of partial disclosures, including: (i) declining third quarter 2014 financial results; (ii) Nationstar being named as a defendant in a class action alleging racketeering in connection with the collection of unlawful inspection fees in January 2015; and (iii) dismal fourth quarter and fiscal 2014 financial results. 

Then, on May 5, 2015, Nationstar reported disappointing first quarter 2015 financial results, including a net loss of $48.3 million, a $110 million write-down on the value of Nationstar's mortgage servicing rights, and a 15% decline in revenues year-over-year. On this news, the price of Nationstar's shares plummeted.

About Kahn Swick & Foti, LLC

To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.

Contact Information

  • Contact:

    Kahn Swick & Foti, LLC
    Lewis Kahn, Managing Partner
    lewis.kahn@ksfcounsel.com
    1-877-515-1850
    206 Covington St.
    Madisonville, LA 70447