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PHH Corporation (NYSE:PHH) Investor Investigation Concerning Possible Breaches Of Fiduciary Duties Announced

  • If you purchased shares of PHH Corporation (NYSE:PHH), you have certain options and you should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Investigation Overview

Company
PHH Corporation
Security
NYSE: PHH

Summary

July 10, 2015 (Shareholders Foundation) - An investigation on behalf of current long-term investors in shares of PHH Corporation (NYSE:PHH) shares was announced over potential breaches of fiduciary duties by certain officers and directors at PHH.

The investigation by a law firm concerns whether certain PHH officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.

The Consumer Financial Protection Bureaus director concluded that PHH Corp. allegedly illegally took kickbacks in exchange for referring consumers to mortgage insurers and ordered it to pay $109 million.

PHH Corporation reported that its annual Total Revenue declined from over $1.38 billion in 2013 to $769 million in 2014 and that its Net Income of $135 million in 2013 declined to $81 million in 2014.
Shares of PHH Corporation (NYSE:PHH) grew from $10.52 per share in December 2011 to as high as $27.77 per share in June 2015.

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