To no surprise Alltell was part of this, if you dig deep enough you might also find they took some form with MERS.
Jax Daily Record-
After Jeff Carbiener resigned as CEO of Lender Processing Services Inc. in June for health reasons, the Jacksonville-based company promised a comprehensive search for a replacement that would take as long as necessary.
As it turns out, it didn’t have to look very far.
LPS last week named Hugh Harris to replace Carbiener. And it’s not the first time the company has turned to Harris.
LPS provides processing services to mortgage lenders through all phases of the loan process, from origination to foreclosure if the loan goes bad.
It’s a company that traces its roots back nearly half a century to a Jacksonville company called Computing & Statistical Services that was eventually bought out by Alltel Corp. in 1992.
Mr. Carbiener will continue to serve as an employee of the Company in the role of Senior Advisor to Mr. Kennedy and the LPS Board of Directors until December 31, 2012. In his capacity as Senior Advisor, Mr. Carbiener will provide advice and counsel to Mr. Kennedy and the Board on an as needed basis. This will enable Mr. Kennedy and the Board to utilize Mr. Carbiener’s deep knowledge of the Company and the industry during this transition period and as they work toward resolving the outstanding legal and regulatory issues facing the Company. Accordingly, effective as of July 7, 2011, LPS entered into a new employment agreement with Mr. Carbiener.
If Mr. Carbiener had terminated his employment with the Company under the current circumstances rather than agreeing to remain with the Company in an advisory capacity, he would have been entitled to receive a lump sum payment equal to the unpaid portion of his current annual base salary of $880,000 through December 31, 2012, the expiration date of his prior employment agreement.
Mr. Carbiener’s new employment agreement terminates his prior employment agreement, and provides that Mr. Carbiener will continue to receive a base salary of $880,000 per year for the term of the agreement, which expires on December 31, 2012. He will not be eligible to participate in the Company’s annual cash bonus incentive plan for 2011 and 2012, and he will not be eligible to participate in future awards under the Company’s equity incentive plans. Under the new employment agreement, Mr. Carbiener is entitled to customary benefits, including medical and other insurance coverage for himself and his eligible dependents, and is subject to customary post-employment restrictive covenants.
Sounds like he’s making out pretty well considering he’s no longer participating in cash bonus, future award incentives.
Lender Processing Services, Inc. today announced that Jeffrey S. Carbiener is stepping down from his positions as chief executive officer, president and director of the company for significant health-related reasons, effective immediately.
LPS’ board of directors has established a committee to search for a replacement. In the interim, Lee A. Kennedy, the executive chairman of the board of LPS and the former chief executive officer of LPS’ prior parent company, Fidelity National Information Services, Inc., will serve in the additional roles of president and chief executive officer.
This will leave many, especially investors taking an interest as to why? In a press release Wells Fargo citing personal reasons.
Atkins’ retirement is unrelated to the company’s financial condition or financial reporting.
“We understand Howard’s decision to retire after having served Wells Fargo successfully for nearly ten years and after having had a financial services career that has spanned four decades. His tenure included Wells Fargo’s rise from a super-regional industry leader to the global company that it is today following its 2008 acquisition of Wachovia,” said John Stumpf, the company’s chairman, president and chief executive officer. “He leaves behind a Wells Fargo that remains financially strong and wholly committed to its strategy of helping all its customers succeed financially.
DALLAS–(BUSINESS WIRE)– Goldfarb Branham LLP is investigating whether certain officers and directors of Lender Processing Services, Inc. (NYSE: LPS) violated state and federal securities laws due to statements the company made about its home foreclosure procedures. Concerned LPS shareholders are urged to contact securities attorney Hamilton Lindley at 877-583-2855 or hlindley@goldfarbbranham.com about their rights and remedies.
“According to a class action complaint, LPS failed to disclose that its DocX subsidiary used ‘robo signers’ to falsify documents and that LPS engaged in improper fee shifting with foreclosure attorneys to hide these deceptive practices,” said securities lawyer Hamilton Lindley. “After a company press release commented on these allegations, LPS stock price plummeted 13 percent.”
Goldfarb Branham LLP lawyers have significant experience representing shareholders and whistleblowers in securities lawsuits nationwide. The firm may be retained without financial obligation or cost to its clients. Lender Processing Services investors who purchased stock before or between July 29, 2009 and October 4, 2010, and continue to hold their shares, should contact the firm at hlindley@goldfarbbranham.com or 877-583-2855 to learn about their rights.
This class action was commenced in the United States District Court for the Middle District of Florida on behalf of purchasers of LPS securities between July 29, 2009 and October 4, 2010 (the “Class Period”).
The Complaint alleges that during the Class Period the Company and certain of its executive officers violated federal securities laws by issuing material misrepresentations to the market concerning the Company’s business, operations and financial performance, thereby artificially inflating the price of LPS securities.
City of St. Clair Shores General Employees Retirement System
v
Lender Processing Services, Inc., Jeffrey S. Carbiener, Lee A. Kennedy, and Francis K. Chan
The complaint alleging violations of the federal securities laws by Lender Processing Services, Inc. and certain of its officers and/or directors. The class action was commenced in the United States District Court for the Middle District of Florida on behalf of purchasers of LPS securities between July 29, 2009 and October 4, 2010 (the “Class Period”) by Robbins Geller Rudman and Dowd LLP.
Consumer ID thefts or consumer identity thefts is one of the main crimes that cause financial as well as emotional anguish. The rubber-stamping of Assignments of Mortgage and the Double Dipping of foreclosure fees and cost expedite the foreclosure process and line the silk pockets of these attorneys, banks and LPS executives.
This is a copy of the September 14, 2009 e-mail from Adrian Lofton to Bradley Johnson, lead Attorney at Taylor, Day, Currie, Boyd and Johnson apprizing him of their TARP fund violations.
Brad, your firm has created a conflict of interest by representing these banks. In addition to the aforementioned, you are not legally entitled to accept TARP funds to represent these banks after your firm implicated them in these federal violations.
Kennedy was on the board of directors since February 2006 and was president and CEO of the company (NYSE: FIS) until it acquired Metavante Technologies Inc. Oct. 1. Frank Martire, who was chairman and CEO of Milwaukee-based Metavante before the acquisition, became president, CEO and director of FIS after the deal closed. Kennedy then became executive vice chairman of the board.
“It has been a privilege to work with the highly talented board members, management team and employees of FIS,” Kennedy said. “The new leadership team is off to a strong start, and I have great confidence in the future of this company.”
The announcement released by FIS stated Kennedy resigned effective immediately “in order to devote more time to outside interests.”
Former Fidelity National Information Services president and CEO Lee Kennedy will retire as executive vice chairman and director of FIS, effective immediately, “in order to devote more time to outside interests.”
Fidelity National (NYSE: FIS), which acquired Brown Deer-based Metavante Technologies Inc. in October 2009, made the announcement Monday. Kennedy was 58 as of the latest FIS proxy statement.
Kennedy joined the FIS board in February 2006 and served as president and CEO until the acquisition of Metavante Technologies. Metavante CEO Frank Martire became CEO of the merged company, renamed FIS, and relocated to FIS headquarters in Jacksonville, Fla.
Recent Comments