April 18, 2018 / 10:07 PM / a year ago

Owl Creek funds sue Ocwen, executives alleging securities fraud

Four funds run by Manhattan-based hedge fund manager Owl Creek Asset Management have filed a securities lawsuit accusing mortgage servicer Ocwen Financial Corp of fraudulently inducing them to invest tens of millions of dollars in the company.

Florida-based Ocwen “actively” persuaded Owl Creek to buy its stock while hiding mortgage servicing misconduct that exposed the company to large penalties, according to the lawsuit filed on Tuesday in West Palm Beach, Florida, federal court.

To read the full story on WestlawNext Practitioner Insights, click here: bit.ly/2JXEaJC

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