LPS entered into a consent order (the “Order”) with the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency and the Office of Thrift Supervision (collectively, the “banking agencies”) in connection with their review of matters relating to the mortgage servicing industry, including the services provided to mortgage servicers by their DocX and Default Solutions operations.
LPS will engage an independent third party to conduct a risk assessment and review of our default management businesses and the document execution services we provided to Servicers from January 1, 2008 through December 31, 2010.
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Stan
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. DJSP Enterprises, Inc. (the “Company”) today announced that it has notified The NASDAQ Stock Market LLC (“NASDAQ”) of its intent to voluntarily delist its ordinary shares, warrants, and units from the NASDAQ Global Market and deregister its ordinary shares, warrants, and units under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). In connection therewith, the Company notified NASDAQ of its intention to file, on or about March 18, 2011, a Form 25 with the Securities and Exchange Commission (the “SEC”) to voluntarily delist the ordinary shares, warrants, and units. The ordinary shares, warrants, and units will continue to be listed through March 28, 2011 and will no longer be listed thereafter.
The Company also announced its intention to file a Form 15 with the SEC on or about March 28, 2011, in order to terminate the registration of the ordinary shares, warrants, and units under Section 12 of the Exchange Act and to terminate its reporting obligations under the Exchange Act.
A copy of the press release announcing the Company’s intention to delist and deregister the ordinary shares, warrants, and units is furnished as Exhibit 99.1 hereto and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits (d) Exhibits.
Exhibit No. Descriptions
99.1 Press release, dated March 8, 2011.
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