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3rd Circ. Won't Revive Stock-Drop Suit Against Ocwen Affiliate

By Jeannie O'Sullivan ( November 14, 2018, 9:15 PM EST) -- The Third Circuit on Wednesday affirmed the dismissal of a securities fraud class action against an Ocwen Financial Corp. affiliate whose stock tumbled following its parent company's regulatory troubles stemming from the housing crisis in the mid-2000s, ruling in a precedential decision that the suing funds didn't plausibly allege the fraud cost investors billions. . . .

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