Friday, June 11, 2010, DJSP Enterprises Inc and David J. Stern Under Investor Investigation Over Federal Securities Laws Violations, David J. Stern Law Office in Plantation Fl Directly Linked to DJSP Enterprises.
DJSP Enterprises, Inc under investor investigation. Investigation on behalf of investors in DJSP Enterprises, Inc (NASDAQ:DJSP) over possible securities laws violations – Contact the Shareholders Foundation, Inc email@example.com
FOR IMMEDIATE RELEASE; PRLog (Press Release) – Jun 01, 2010 – An investigation on behalf of investors in DJSP Enterprises, Inc (NASDAQ:DJSP) securities over possible violations of Federal Securities Laws by DJSP Enterprises was announced.
Jan. 19th, 2010, Chardan 2008 China Acquisition Corp. (CACA, CACAW, CACAU) signed a definitive agreement for a business combination with DAL Group, LLC aka David J. Stern Law Office, a provider of processing services for mortgage lenders and servicers in Florida.
At the closing of the business combination with Chardan, DAL will own 100% of the business and operations of Default Servicing, Inc. and Professional Title & Abstract Company of Florida and the non-legal operations supporting the foreclosure and other legal proceedings handled by the Law Offices of David J. Stern, P.A., collectively known as the Company.
Upon consummation of the transaction, Beijing, China-based Chardan with Kerry S. proper as CEO, will change its name to DJSP Enterprises, Inc. "DJSP" (David J. Stern Processing), and its stock is expected to trade on the Nasdaq under the symbols DJSP, DJSPU, and DJSPW, 52 Wk High was $13.65 Low was$ 4.94 current is $5.50.
If an investor purchased 10,000 shares of DJSP when first offered on Jan. 19th, 2010 at $13.65 a share or $136,500, that $136,500 is worth today, just 5 months later, $55,000, you lost $81,500.
Update Quotes: On. Updates every 7 Seconds. DJSP DJSP
DJSP Enterprises, Inc
Market : NASDAQ-GM News Price
Last Sale $ 5.50
Change Net / % 0.45 8.91%
Best Bid / Ask N/A / N/A
1y Target Est: N/A
Today's High / Low $ 5.65 / $ 5.01
Share Volume 271,725
50 Day Avg. Daily Volume 322,905
Previous Close $ 5.05
52 Wk High / Low $ 13.65 / $ 4.94
Shares Outstanding 9,167,000
Market Value $ 50,418,500
Annualized Dividend N/A
Ex Dividend Date N/A
Dividend Payment Date N/A
Current Yield N/A
NASDAQ Official Open Price: $ 5.09
Date of NASDAQ Official Open Price: Jun. 11, 2010
NASDAQ Official Close Price: $ 5.51
Date of NASDAQ Official Close Price: Jun. 11, 2010
Assuming no redemptions by Chardan shareholders, the current owners of the company, the "Stern Parties" will receive approximately $111 million from DAL and the right to receive another $35 million in post-closing cash. In addition, "Stern Parties" will also hold equity interests.
Kerry S. Propper, Chardan's chief executive officer said, "The acquisition should generate significant value for our shareholders (I don' think so). David J. Stern, who will be DJSP's CEO, has an impressive record building this business by continually strengthening the customer relationships on which it is based."David J. Stern Law Office with DJSP Enterprises, Inc., went Public on the NASDAQ Jan. 19th, 2010, David J. Stern has 1/3 ownership of the stock with Kerry S. Propper 1/3 and “Royale Holdings 1/3.
Chardan 2008 China Acquisition, with Kerry S. Proper CEO, Entered Into Business Combination With DAL Group, David J. Stern Law office, DJSP Enterprises, Inc - Gone public on the NASDAQ Jan. 19th, 2010.
DJSP Enterprises, Inc Ownership, Number of Ordinary Shares, Percentage of Ownership;
David J. Stern (2) -0- -0- 4,151,666 OR 33.15%
Kumar Gursahaney -0- -0- -0- -0-
Juan V. Ruiz -0- -0- -0- -0-
Matthew S. Kayton -0- -0- -0- -0-
Mark P. Harmon -0- -0- -0- -0-
Nicholas H. Adler -0- -0- -0- -0-
Jerry Hutter -0- -0- -0- -0-
All Directors and Officers as a Group -0- -0- -0- -0-
Kerry S. Propper (3) 680,875 6.17% 4,151,666 OR 33.15%
Royale Holdings(4) 661,693 6.21% 4,151,666 OR 33.15%
THE U.S. SMALL BUSINESS ADMINISTRATION : CIVIL ACTION 2008; Summary judgment against Defendants Richard D. Propper, Kerry S. Propper, P. Timothy Garton, Michael D. Chermak, Charles R. Smith, and Kenneth M. Borrow (collectively, “Individual Defendants”) and Acorn Connecticut Investments, L.P. (“ACI”) (collectively, “Defendants”).(1) Judgment in favor of Plaintiff and against Defendant Acorn Connecticut Investments, L.P. in the amount of $1,161,333.33, plus accrued interest at $183.56/day after July 15, 2008;
(2) Judgment in favor of Plaintiff and against Defendant Richard D. Propper in the amount of $222,443.87, plus accrued interest at $35.16/day after July 15, 2008;
(3) Judgment in favor of Plaintiff and against Defendant Kerry S. Propper in the amount of $43,333.33, plus accrued interest at $6.85/day after July 15, 2008.
Bill Warner Private Investigator, SEX, CRIME, CHEATERS & TERRORISM