Lender Processing Services LPS Stock Purchasers File Securities Fraud Class Action Lawsuit Complaint Against Lender Processing Services Over Mortgage Lending Practices.
A securities fraud class action lawsuit has been filed against Lender Processing Services, Inc. (“Lender Processing Services” or “LPS” or “Defendant”), a mortgage processing servicer, in the United States District Court for the Middle District of Florida on behalf of a class consisting of purchasers of Lender Processing Services common stock (symbol: LPS) between July 29, 2009 and October 4, 2010 (the “Class Period”), alleging that Lender Processing Services and certain of its executives and officers violated federal securities fraud laws, including the Securities Exchange Act of 1934, by allegedly failing to disclose that its subsidiary Docx had been purportedly falsifying documents through the use of robo signers and that Lender Processing Services had purportedly engaged in improper fee sharing arrangements with foreclosure attorneys and/or law firms, according to a securities fraud class action lawsuit news report.
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