On Oct. 16, Jacksonville, Florida-based Lender Processing Services Inc. (LPS) announced that its subsidiary--DocX LLC--had reached a settlement with the Delaware attorney general (AG). The settlement will end the state's investigation of the document-execution practices by DocX.
The DocX subsidiary was closed by LPS in 2010.
An LPS press release stated that the settlement terms provide for a payment of $150,000 to the state in lieu of penalties, plus reimbursement of $ ioo,000 to the Delaware AG's office to cover the fees and costs of the investigation.
The settlement terms also provide a release of potential liability for LPS and DocX related to document-execution practices in the state. "This settlement is another important step in our continuing efforts to resolve legal and regulatory issues related to the operations of DocX, which we closed in 2010," said Hugh Harris, president and chief executive officer of LPS.
Harris added, "LPS remains focused on resolving all remaining legal and regulatory challenges as expeditiously as possible, and is committed to ensuring that we continue to operate with integrity...