Lender Processing Services Inc.
Zamansky & Associates LLC has launched an investigation on behalf of investors who purchased the common stock of Lender Processing Services Inc. (”LPS”) for violation of federal securities laws.
On October 12, 2010, LPS’s stock halted trading after news was reported that the Department of Justice launched an investigation into the company’s mortgage reporting systems. Apparently, the DOJ is concerned that the company’s automated mortgage reporting system may be passing on erroneous evidence to attorneys who rely on the service for evidence in court proceedings. The company is responsible for providing banks with the documentation necessary when proceeding with foreclosures. The Florida Attorney General initially began an investigation after several foreclosures were dismissed by courts amidst accusations that the company was fabricating evidence
As a result of these revelations, LPS’s stock price fell substantially, and may have been artificially inflated for months If you have suffered a loss or decline in LPS, you may have a legal claim to recover your losses or other damages. Please contact us as soon as possible to protect your rights.