July 19, 2013 (Shareholders Foundation) - An investigation on behalf of current long term investors in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) was announced concerning whether certain officers and directors of PennyMac Mortgage Investment Trust breached their fiduciary duties in connection with certain business dealings.

The investigation by a law firm concerns whether certain PennyMac Mortgage Investment Trust officers and directors breached their fiduciary duties and caused damage to the company and its shareholders by, among other things, failing to implement adequate internal controls. More specifically, the investigation concerns potential allegations that the Chairman and CEO of PennyMac Mortgage Investment Trust benefited through PennyMac Financial Services, Inc. at the expense of PennyMac Mortgage Investment Trust.

PennyMac Mortgage Investment Trust reported that its annual total Revenue rose from $44.05 million in 2010 to $335.17 million in 2012 and that its respective Net Income increased from $24.48 million to $138.25 million. Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) grew from $16.42 per share in October 2011 to as high as $28.27 per share in January 2013.

According to the investigation in the 2013 Initial Public Offering of PennyMac Financial Services, Inc. it was revealed that PMT paid PennyMac Financial Services, Inc. and its subsidiaries more than $96 million the previous yeara significant increase from $8.6 million in 2010 and $23.4 million in 2011. The CEO and Chairman of PennyMac Mortgage Investment Trust has been the Chair and CEO of PennyMac Financial Services, Inc. since its formation in 2008. It was further acknowledged that PMT accounted for more than one-third of PennyMac Financial Services, Inc's net revenue in 2012, and that, 'The members of our senior management team may have conflicts in allocating their time and services between our operations and the activities of PennyMac Mortgage Investment Trust, the Investment Funds and other entities or accounts managed by us now or in the future.'

Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) closed on July 19, 2013, at $22.31 per share.