Another 155 employees received pink slips Thursday from the Law Offices of David J. Stern and DJSP Enterprises, which processes home foreclosure cases for the Plantation-based law firm.
The layoffs came as Fannie Mae, which withdrew it business from the Stern firm after becoming one of its biggest clients, announced it had named eight law firms to handle foreclosure cases in Florida.
On November 2, 2010, the Audit Committee of the Board of Directors of DJSP Enterprises , Inc. (the “Company” or the “Registrant” ) appointed Jewett, Schwartz, Wolfe & Associates (“Jewett”) as the Company’s independent registered public accounting firm, effective immediately. Jewett served as the independent registered public accounting firm of Chardan 2008 China Acquisition Corp. (“Chardan”) for the periods prior to the closing on the Business Combination (as defined below). Chardan changed its name to DJSP Enterprises, Inc. on January 15, 2010 in connection with the closing of the Business Combination.
On October 27 , 2010, the Company was notified that effective October 27 , 2010, McGladrey & Pullen, LLP, the Company’s independent registered public accounting firm (“McGladrey”), resigned as the independent registered public accounting firm for the Company.
The terminations come two days after mortgage giants Fannie Mae and Freddie Mac severed ties with the firm. “There’s been a substantial reduction in staff, it started happening over the past few weeks and many employees received notice today,” said Jeffrey Tew, a lawyer representing the Stern firm.
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