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Home Loan Servicing Solutions Ltd (NASDAQ:HLSS) Investor Filed Lawsuit in Effort to Halt the Takeover

Via: ReleaseWire

Updated 8:30 AM CDT, Wed, March 25,2015

A lawsuit was filed by an investor in shares of Home Loan Servicing Solutions Ltd (NASDAQ:HLSS) in effort to stop the proposed takeover and Home Loan Servicing Solutions Ltd (NASDAQ:HLSS stockholders should contact the Shareholders Foundation.

San Diego, CA -- (ReleaseWire) -- 03/25/2015 -- An investor, who currently holds shares of Home Loan Servicing Solutions Ltd (NASDAQ:HLSS), filed a lawsuit in effort to stop the proposed takeover of Home Loan Servicing Solutions Ltd by New Residential Investment Corp.

Investors who purchased shares of Home Loan Servicing Solutions Ltd (NASDAQ:HLSS) and currently hold any of those NASDAQ:HLSS shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:HLSS stockholders by agreeing to sell Home Loan Servicing Solutions Ltd. too cheaply via an unfair process to Residential Investment Corp

On February 22, 2015, New Residential Investment Corp. (NYSE:NRZ) and Home Loan Servicing Solutions, Ltd. (NASDAQ: HLSS) announced a merger agreement under which New Residential Investment Corp will acquire all of the outstanding shares of Home Loan Servicing Solutions Ltd (NASDAQ:HLSS) for $18.25 per share in cash, totaling approximately $1.3 billion.

However, the plaintiff claims that the proposed consideration NASDAQ:HLSS shareholders will receive is grossly inadequate and undervalues Home Loan Servicing Solutions Ltd. Indeed, NASDAQ:HLSS shares traded in 2013 as high as $25.24 per share. Furthermore,, Home Loan Servicing Solutions Ltd reported that its annual Total Revenue rose from $49.87 million in 2012 to $239.83 million in 2013 and that its Net Income increased from $19.62 million in 2012 to $117.66 million in 2013. Shares of Home Loan Servicing Solutions Ltd (NASDAQ:HLSS) grew from $13.26 per share in June 2012 to as high as $25.24 per share in July 2013. In addition, the plaintiff claims that the process is also unfair to NASDAQ:HLSS stockholders.

On March 23, 2015, NASDAQW:HLSS shares closed at $17.74 per share.

Those who are current investors in Home Loan Servicing Solutions Ltd (NASDAQ:HLSS) shares have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

For more information on this press release visit:
http://www.releasewire.com/press-releases/home-loan-servicing-solutions-ltd-nasdaqhlss-investor-filed-lawsuit-in-effort-to-halt-the-takeover-588292.htm

Media Relations Contact
Michael Daniels
858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com