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PennyMac Stock Plunge Sparks Investor Probes as Earnings Test Looms
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PennyMac Stock Plunge Sparks Investor Probes as Earnings Test Looms
Two shareholder-rights firms have launched investigations into PennyMac Financial Services over possible misleading statements before a 33% stock plunge in January. The probes come as PennyMac prepares to report first-quarter earnings on May 5. The company’s servicing segment pretax income fell sharply last quarter, triggering the selloff. PennyMac shares last traded at $90.29, down from $149.70 before the drop. The post PennyMac Stock Plunge Sp…
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