CARVELLI v. OCWEN FINANCIAL CORP.

No. 18-12250.

934 F.3d 1307 (2019)

Karen A. CARVELLI, individually and on behalf of all others similarly situated, Plaintiff, University of Puerto Rico Retirement System, Lead Plaintiff, Plaintiff-Appellant, Ryan Huseman, Consolidated Plaintiff, v. OCWEN FINANCIAL CORPORATION, Ronald M. Faris, Michael R. Bourque, Jr., Defendants-Appellees.

United States Court of Appeals, Eleventh Circuit.

August 15, 2019.


Attorney(s) appearing for the Case

Mitchell M.Z. Twersky , Ian D. Berg , Matthew Enrico Guarnero , Atara Hirsch , Todd L. Kammerman , Lawrence D. Levit , Jake Nachmani , Abraham Fruchter & Twersky, LLP, NEW YORK, NY, Julie Prag Vianale , Kenneth J. Vianale , Vianale & Vianale, LLP, BOCA RATON, FL, for Plaintiff-Appellant.

John Patrick Coffey , Jason Moff , Jonathan Mark Wagner , Kramer Levin Naftalis & Frankel, LLP, NEW YORK, NY, for Defendants-Appellees.

Before WILLIAM PRYOR, NEWSOM, and BRANCH, Circuit Judges.


The University of Puerto Rico Retirement System purchased Ocwen Financial Corporation common stock at an allegedly inflated price after a series of statements by Ocwen's officers implied that the company would emerge from a regulatory mess. When Ocwen's stock price instead began to fall, the Retirement System brought a private...

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