Mortgage Co. Execs Sued Over Robosigning Defense Fees

Law360, Wilmington (February 13, 2013, 7:53 PM EST) -- Lender Processing Services Inc. directors were hit with a shareholder derivative suit Tuesday alleging their failure to go after higher-ups responsible for the “robosigning” of foreclosure documents and other faulty practices left the mortgage servicer on the hook for hefty legal expenses.

Shareholder Steven Hill claims in a complaint filed in Delaware Chancery Court that while Florida-based LPS has borne the high cost of resolving litigation over the business practices of subsidiaries LPS Default Solutions and DocX, including a recently announced $127 million settlement, the company's...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.