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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of PHH Corporation (NYSE: PHH) to Ocwen Financial Corporation (NYSE: OCN) for $11 per share.
The investigation concerns whether the Board of PHH breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Ocwen Financial Corporation is underpaying for PHH shares, thus unlawfully harming PHH shareholders.
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