On June 6, 2016, the Court issued an Order denying Defendants’ motions to dismiss in part, in the action captioned In re Home Loan Servicing Solutions, Ltd. Securities Litigation, Case No. 0:16-cv-60165-WPD (S.D. Fla.). Saxena White is serving as Lead Counsel on behalf of three institutional investors in the action. The Court found that HLSS’s statements concerning related party transactions involving Defendant Erbey and several other companies that he controlled were false and misleading when made. Judge William P. Dimitrouleas stated in his Order that “Plaintiffs have alleged that Erbey was not only simultaneously the Chairman of HLSS and Ocwen, but that he was at the epicenter of all the Ocwen-Related Companies, that he was forced to resign, that regulatory documents indicate that he engaged in improper transactions with Altisource, that he had significant holdings in several Ocwen-companies, and that the magnitude and duration of the wrongdoing described in the Amended Complaint was substantial.” Accordingly, the Court concluded that “Plaintiffs have adequately alleged scienter for the Related Party Statements, and consequently HLSS.” The action has now progressed into the discovery phase of litigation.