Altisource Portfolio Solutions to pay $32 million to settle class action suit over Ocwen relationship

When Altisource Portfolio Solutions filed its 10-K yearly filing with the Securities and Exchange Commission earlier this week, the company revealed that theConsumer Financial Protection Bureau is looking into the company’s relationship with Ocwen Financial.

But that wasn’t the only Ocwen-related revelation in Altisource’s SEC filing.

The company also disclosed that it recently reached a $32 million settlement in a class action lawsuit brought by Altisource investors who claimed financial harm after Altisource’s stock plummeted after the New York Department of Financial Services began investigating the company’s relationship with Ocwen in early 2014.

Read on.

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