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DJSP Enterprises, Inc. DJSP Securities Stock Fraud

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Company: DJSP Enterprises, Inc.
Ticker Symbol: DJSP
Class Period: Mar-16-10 to May-27-10
Date Filed: Jul-21-10
Lead Plaintiff Deadline: Sep-19-10
Court: Southern District of Florida
Allegations:
Cincinnati, OH: A class action lawsuit has been filed on behalf of all persons who purchased the common stock of DJSP Enterprises, Inc. ("DJSP" or the "Company") between March 16, 2010 and May 27, 2010, inclusive (the "Class Period"), and who suffered damages as a result. The action is pending in the United States District Court for the Southern District of Florida.

The Complaint alleges that during the Class Period, DJSP and certain of its officers and/or directors (the "Defendants") violated the Securities Exchange Act of 1934 by issuing materially false and misleading statements and failing to disclose adverse facts known to them regarding the Company's business and financial results. As a result the stock traded at artificially inflated prices during the Class Period.

On March 16, 2010, DJSP informed the investing community that "...there is no stopping this inflow of continued defaults that we anticipate to go for another two or three years....foreclosure volumes through 2012 are expected to increase dramatically." Then on May 27, 2010, DJSP shocked the market when it lowered its guidance for adjusted net income by $15 to $17 million and for adjusted EBIDTA by $18 to $22 million. On this news, the Company's shares fell nearly 29%, opening on May 28, 2010 at $6.33 per share.

DJSP indicated that the lowered guidance was a result of (i) the foreclosure system conversion of one of its largest bank clients which resulted in a reduction in the referral of foreclosure files; and (ii) a temporary slowdown in foreclosures due to governmental intervention programs.

If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.

DJSP Enterprises, Inc. DJSP Securities Fraud Legal Help

If you have suffered from financial losses, you may qualify for damages or remedies that may be awarded in a possible DJSP Enterprises, Inc. securities class action lawsuit. Please fill in our form on the right to submit your complaint for a free evaluation.

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