INVESTOR ALERT: Glancy Binkow & Goldberg LLP Reminds Investors of the Lead Plaintiff Deadline in the Class Action Lawsuit Aga...

Glancy Binkow & Goldberg LLP reminds investors of Altisource Portfolio Solutions S.A. (“Altisource” or the “Company”) (NASDAQ:ASPS) that purchasers of Altisource common stock between July 25, 2013 and August 4, 2014, inclusive (the “Class Period”), have until November 7, 2014, to file a motion to be appointed as lead plaintiff in the shareholder lawsuit.

On August 4, 2014, news reports disclosed that New York’s Department of Financial Services (“DFS”) was investigating whether the Company entered into improper transactions with affiliated entities. According to the DFS, it appears that Altisource entered into an arrangement with Ocwen Financial Corp. (“Ocwen”) that will generate significant revenue from Ocwen’s new forced-place arrangement while requiring little work on Altisource’s behalf. Following this news, shares of Altisource declined nearly 15%, to a closing price of $88.65 per share on August 4, 2014, on heavy volume.

Then, on October 21, 2014, the DFS disclosed that Ocwen had backdated potentially hundreds of thousands of letters to mortgage borrowers. And, "Ocwen did nothing to investigate or address the backdating issue" when an employee raised concerns and "alerted the company's Vice President of Compliance." Instead, "Ocwen ignored the problem for five months," "failed to launch an appropriate investigation," and "still has not resolved the issue today." This news caused Altisource shares to plunge over 10%, or $10.32 per share, to a closing price of $84.51 per share on October 21, 2014.

The Complaint alleges that Altisource was complicit in Ocwen’s misleading and allegedly illegal behavior; despite public representations to the contrary, the Company’s chairman was personally involved in approving conflicted transactions with Altisource and other related entities which he controlled; that the Company failed to comply with applicable laws and regulations, including lending regulations designed to protect homeowners; and, the Company lacked adequate internal and financial controls.

If you are a member of the Class described above, you may move the Court no later than November 7, 2014, to serve as lead plaintiff; however, you must meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, at [phone], by e-mail to [e-mail], or visit our website at http://www.glancylaw.com. If you inquire by email, please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Glancy Binkow & Goldberg LLPLesley Portnoy, Esquire, [e-mail]://www.glancylaw.com