A little over a year ago I purchased a stock portfolio and Ocwen (OCN) was part of the package. I just finsihed the semi annual review of my stocks and this company has been in a downward spiral for over a year.
I have been contacting other stock owners, and will ask Mr. Erby some very tough questions at the next stockholders meeting. And if he fails to answer them then their is very strong possiblity that the company will be facing tough legal action for SOX 302,404 and 1934 SEC violations.
Some of the legal action already against the company speaks loudly to the business ethics that are being praticed here. $1 Million in sexual harrassment, $3 Million for Fraud, over 27,000 total pieces of litigation total.
We (group of stockholders) have begun an intial investigation and found other issues that cannot be addressed because of the litigation it may impact, but are very very distrurbing.
I certainly want to make money as does any investor, but when it becomes clear that misleading information is being sent to its investors in order to maintain confidence in a company with these kinds of issues clearly something is wrong.
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