Lender Processing Services, Inc. - Securities Class Action

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Lender Processing Services, Inc. Summary: On November 23, 2010, the complaint alleges that, throughout the Class Period, defendants failed to disclose material adverse facts about the Company’s true financial condition, business and prospects. Specifically, the complaint alleges that defendants failed to disclose: (i) that the Company had engaged in improper and deceptive business practices; (ii) that the Company’s subsidiary Docx had been falsifying documents through the use of robo signers; (iii) that the Company had engaged in improper fee sharing arrangements with foreclosure attorneys and/or law firms, including, but not limited to, undisclosed contractual arrangements for impermissible legal fee splitting, which are camouflaged as various types of fees; (iv) as a result of the Company’s deceptive business practices, the Company reported misleading financial results; and (v) further, as a result of the foregoing, at all relevant times, the Company’s financial outlook lacked a reasonable basis.

On October 4, 2010, in response to continued media reports and government investigations calling into question the Company’s default-related services that LPS provides to mortgage lenders and services, LPS issued a press release commenting on what it considered “mischaracterizations of its services.” As a result, the market learned that LPS’ business practices were potentially deceptive and fraudulent, causing the price of LPS stock to plummet an additional $2.72, or 8.6% per share, on October 4, 2010, to close at $28.76 per share. The price of LPS stock fell another $1.45, or 5.04%, on October 5, 2010, to close at $27.31 per share, on unusually heavy trading volume.

On March 10, Judge Timothy J. Corrigan signed the Order appointing Baltimore County Employees Retirement System as lead plaintif and approving selection of Labaton Sucharow LLP and Robbins Geller Rudman & Dowd LLP as counsel. On May 18, 2011, the lead plaintiff filed an Amended Complaint.

On March 30, 2012, Judge Timothy J. Corrigan signed the Order granting defendants' motion to dismiss. Plaintiff's Amended Complaint was dismissed without prejudice, with leave to amend. On May 8, 2012, plaintiffs filed a second amended complaint.

INDUSTRY CLASSIFICATION:
SIC Code: 7389
Sector: Technology
Industry: Software & Programming

COMPANY/ISSUER NAME:	Lender Processing Services, Inc.
COMPANY/ISSUER TICKER:	LPS
COMPANY WEBSITE:	www.lpsvcs.com

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

City of St. Clair Shores General Employees Retirement System, et al. v. Lender Processing Services, Inc., et al.

COURT: M.D. Florida	DOCKET NUMBER: 10-CV-01073
JUDGE NAME: Hon. Timothy J. Corrigan
DATE FILED: 11/23/2010	SOURCE:
CLASS PERIOD START: 07/29/2009	CLASS PERIOD END: 10/04/2010
TYPE OF COMPLAINT: Complaint (Unamended and Unconsolidated)
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Robbins Geller Rudman & Dowd LLP (Boca Raton) 120 East Palmetto Park Road, Suite 500, Boca Raton, FL, 33432 (voice) 561.750.3000, (fax) 561.750.3364, VanOverbeke Michaud & Timmony, P.C. 79 Alfred Street, Detroit, MI, 48201 (voice) 313.578.1200, (fax) 313.578.1200, _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 2

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT
Class Action Complaint For Violations Of The Federal Securities Laws
Type: Complaint		Date on the document: 11/23/2010
Order
Type: Order Appointing LP/LC		Date on the document: 03/10/2011

REFERENCE COMPLAINT

City of St. Clair Shores General Employees Retirement System, et al. v. Lender Processing Services, Inc., et al.

COURT: M.D. Florida	DOCKET NUMBER: 10-CV-01073
JUDGE NAME:
DATE FILED: 05/18/2011	SOURCE:
CLASS PERIOD START: 08/06/2008	CLASS PERIOD END: 10/04/2010
TYPE OF COMPLAINT: First Amended
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Labaton Sucharow LLP 140 Broadway, New York, NY, 10005 (voice) 212.907.0700, (fax) 212.818.0477, info@labaton.com Robbins Geller Rudman & Dowd LLP (Boca Raton) 120 East Palmetto Park Road, Suite 500, Boca Raton, FL, 33432 (voice) 561.750.3000, (fax) 561.750.3364, _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 2

DOCUMENTS FOR THE REFERENCE COMPLAINT
Amended Class Action Complaint And Demand For Jury Trial
Type: Complaint		Date on the document: 05/18/2011
U.S. District Court Civil Docket
Type: Docket		Date on the document: 05/18/2011
U.S. District Court Civil Docket
Type: Other		Date on the document: 10/21/2011
Order
Type: Order		Date on the document: 03/30/2012
U.S. District Court Civil Docket
Type: Docket		Date on the document: 03/30/2012
Second Amended Class Action Complaint And Demand For Jury Trial
Type: Other		Date on the document: 05/08/2012

OTHER DOCUMENTS

Case Name and/or Number:
Type:		Date on the document:

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