Mortgage Firm To Pay Shareholders $14M To End Fraud Suit

Law360, Miami (August 1, 2013, 5:06 PM EDT) -- Mortgage servicing firm Lender Processing Services Inc. will pay shareholders $14 million to settle a class action claiming it engaged in fraudulent business practices to artificially inflate its revenue and stock price, attorneys representing the shareholders announced Thursday.

Judge Timothy J. Corrigan of the U.S. District Court for the Middle District of Florida has set an Oct. 25 hearing to consider final approval of the settlement agreement as well as motions to appoint the law firms Labaton Sucharow LLP and Robbins Geller Rudman & Dowd LLP...
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