Lender Processing Services, Inc. (LPS) | Investor Sues Directors over Alleged Wrongdoing

Lender Processing Services, Inc. (NYSE:LPS) Investor Sues Directors over Alleged Wrongdoing

San Diego, CA — (SBWIRE) — 02/29/2012 — An investor in NYSE: LPS shares filed a lawsuit against directors over Lender Processing Services, Inc. over alleged breaches of fiduciary duties in connection with Lender Processing Services’ default operations.

Investors who are current long term investors in Lender Processing Services, Inc. (NYSE: LPS) shares, have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.

The plaintiff alleges that that defendants breached their fiduciary duties and that the board of directors was made expressly aware of the issues with Docx, an Lender Processing Services subsidiary, but did not end the robo-signing practice, which is a process in which unverified documents are automatically generated and submitted in foreclosure and bankruptcy proceedings.

The plaintiff alleges that in September and October of 2010, news articles across revealed that many of the automatically-generated documents used in judicial foreclosure proceedings and bankruptcies were improper and invalid and that the volume of Lender Processing Services documents filed in the wake of the financial crisis made clear that the paperwork was frequently automatically generated with very little, if any, factual investigation into whether the foreclosing entity had a legal right to foreclose on the property, and other facts critical to the proceedings.

In December 2011 a lawsuit was also filed by the Office of the Attorney General of the State of Nevada. This lawsuit alleged among other things that Lender Processing Services and certain of its subsidiaries engaged in a pattern and practice of falsifying, forging and/or fraudulently executing foreclosure related documents, resulting in numerous foreclosures that were predicated upon deficient documentation, and implemented a widespread scheme to forge signatures on key documents, to ensure that volume and speed quotas were met.

Those who are current long term investors in Lender Processing Services, Inc. (NYSE: LPS) shares, have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

SOURCE: http://www.sbwire.com/

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4closureFraud.org

Comments
7 Responses to “Lender Processing Services, Inc. (LPS) | Investor Sues Directors over Alleged Wrongdoing”
  1. Tien says:

    I am from Vietnam so this is second langue, If you read this please for give me for langue barres the original sue was CITIMORTGAGE, INC.; CR TITLE SERVICES; AMERICAN BROKERS CONDUIT. CO; MERS.but Judge unfair ruling dismiss with Prejudice, later on my BK. I fine that out PITE DUNCAN. LLP. that name was recording in County for the trustee Sale on April 1, 2010. so I ad. this Law firm in the Law Sue the Law firm William L. Partridge dba PITE DUNCAN. LLP., locate at San Diego Ca. on the day hearing had the different Lawyer and said this law firm to do not thing wrong no name interest on my house I Said yes look because the Name of law firm on the Trustee Sale and had recorded in the Riverside county Recorder office this Law Firm I thing responsible for the posting Auction to sale of my previous home during BK. I am in the REDISCOVERY MERS.; and PITE DUNCAN, LLP. in Pro-Per. NOW IF SOME ONE could send to me some input. MY Email: mckitie@gmail.com. Please and thank you so much for this web site 4CLOSURE FRAUD i am not sure why I could register my self in to the hemlet web site but for all of Your work it is sure help me so much in my law sue and I could not have done with out this
    Thank You again. Tien

  2. Stan Bennson says:

    It is funny how other so-called News companies use LPS as some sort of authority on the housing market.
    These people committed felonies by producing fake paperwork, just amazing how bad the media is in the US.

  3. Igor says:

    Finally! Now its time for the rest of the Cooperations and Government Agencies who were victim of the ‘inside men’ syndicate to begin civil/criminal proceedings against these LIZARDS.

  4. tee says:

    whoaaa…….that’s scary, ….I guess the gov is getting a taste of ” Not Knowing” who these anonymous people are
    …..just like the banks who hide from the people while they rob us……….using mers and fake signatures…..who really is the man behind the curtain ?

  5. Activist says:

    Does this shirt exist I want one?

  6. Expose The FL Reg Agency Corruption, Fraud & Malfeasance says:

    I WANT ONE OF THOSE SHIRTS!

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