-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, BBn0RYvy9vxb9gWhsi6lHsqU3ilEAM1b57bwdUG4m0UEmRVeqCYgVYbbKJNARCBa +6ArPy3+2oEPU0vRQJwMjg== 0001144204-10-054351.txt : 20101019 0001144204-10-054351.hdr.sgml : 20101019 20101019102931 ACCESSION NUMBER: 0001144204-10-054351 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20101019 FILED AS OF DATE: 20101019 DATE AS OF CHANGE: 20101019 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DJSP Enterprises, Inc. CENTRAL INDEX KEY: 0001436612 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] IRS NUMBER: 000000000 STATE OF INCORPORATION: D8 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-34149 FILM NUMBER: 101129495 BUSINESS ADDRESS: STREET 1: 900 SOUTH PINE ISLAND DRIVE STREET 2: SUITE 400 CITY: PLANTATION STATE: FL ZIP: 33324 BUSINESS PHONE: (954) 233-8000 X2024 MAIL ADDRESS: STREET 1: 900 SOUTH PINE ISLAND DRIVE STREET 2: SUITE 400 CITY: PLANTATION STATE: FL ZIP: 33324 FORMER COMPANY: FORMER CONFORMED NAME: Chardan 2008 China Acquisition Corp. DATE OF NAME CHANGE: 20080603 6-K 1 v199335_6k.htm Unassociated Document
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
 
Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE
SECURITIES EXCHANGE ACT OF 1934

For the month of October 2010

Commission File Number:  001-34149

 
DJSP ENTERPRISES, INC.
(Exact name of registrant as specified in its charter)

900 South Pine Island Road
Suite 400
Plantation, Florida 33324
Tel: (954) 233-8000, ext. 2024
Fax: (954) 233-8570
(Address of principal executive office)
 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F  x  Form 40-F o

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulations S-T Rule 101(b)(1): o

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulations S-T Rule 101(b)(7): o

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.  Yes  o   No x

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):
82-_________.

 
 
 
 
Overview

On October 19, 2010, DJSP Enterprises, Inc., a British Virgin Islands company, limited by shares (the “Company”), issued a press release announcing that Stephen J. Bernstein, the Company’s Lead Independent Director, has been appointed as Interim Chairman of the Company’s Board of Directors, replacing David J. Stern as Chairman of the Board.  Mr. Stern will continue in his role as Chief Executive Officer of the Company and will also serve as its President.  As compensation for his new position, in lieu of the director fee he was receiving, the Company will pay Mr. Bernstein a director fee of $10,000 per week for so long as he continues to serve as Interim Chairman.  The Company also announced the voluntary resignations of Richard Powers as President and Chief Operating Officer, Kumar Gursahaney as Executive Vice President and Chief Financial Officer and Howard S. Burnston as Vice President, General Counsel and Secretary.
 
A copy of this press release is attached hereto as Exhibit 99.1.

 
2
 
 
 EXHIBITS
 
 
Exhibit No.
  
Description
     
99.1
  
Press release, dated October 19, 2010.
 
 
SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 
Dated: October 19, 2010
DJSP ENTERPRISES, INC.
  
       
         
 
By:
/s/ David J. Stern
  
    Name: David J. Stern  
    Title: President and Chief Executive Officer  
         
 
 
3
 
 EX-99.1 2 v199335_ex99-1.htm Unassociated Document
 
Exhibit 99.1

DJSP Enterprises, Inc. Announces Recent Developments
 
PLANTATION, Fla., October 19, 2010 (GLOBE NEWSWIRE) – DJSP Enterprises, Inc. (Nasdaq: DJSP, DJSPW DJSPU) today announced that Stephen J. Bernstein, the Company’s Lead Independent Director, has been appointed as Interim Chairman of the Board of the Company.  Initially, Mr. Bernstein’s role as non-executive Chairman will be a full time position as he provides Board support to the Company as it develops and executes plans to respond to recent developments impacting the Company and the industry.  Mr. Bernstein replaces Mr. David J. Stern as Chairman of the Board.  Mr. Stern continues in his role as Chief Executive Officer of the Company and will serve as its President.
 
The Company also announced the voluntary resignations of Richard Powers, as President and Chief Operating Officer, Kumar Gursahaney as Executive Vice President and Chief Financial Officer and Howard S. Burnston, as Vice President, General Counsel and Secretary, each of whom joined the Company in 2010.
 
About DJSP Enterprises, Inc.
 
DJSP is the largest provider of processing services for the mortgage and real estate industries in Florida and one of the largest in the United States.  We provide a wide range of processing services in connection with mortgages, mortgage defaults, title searches and abstracts, REO (bank-owned) properties, loan modifications, title insurance, loss mitigation, bankruptcy, related litigation and other services.  Our principal customer is The Law Offices of David J. Stern, P.A. (“DJSPA”).  We are headquartered in Plantation, Florida, with additional operations in Louisville, Kentucky and San Juan, Puerto Rico.  Our U.S. operations are supported by a scalable, low-cost back office operation in Manila, the Philippines that provides data entry and document preparation support for our U.S. operations.
 
Forward Looking Statements
 
This press release contains forward-looking statements about us within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Act”), including but not limited to management’s expectations about the impact of our expense reduction efforts and recent developments in the residential mortgage foreclosure industry.  Additionally, words such as “anticipate,” “believe,” “estimate,” “expect” and “intend” and other similar expressions are forward-looking statements within the meaning of the Act.  Such forward-looking statements are based upon the current beliefs and expectations of our management and are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements.  The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements:  business conditions, changing interpretations of generally accepted accounting principles; outcomes of government or other regulatory reviews, particularly those relating to the regulation of the practice of law; the impact of inquiries, investigations, litigation or other legal proceedings involving us or our affiliates, which, because of the nature of our business, have happened in the past to us and DJSPA; the impact and cost of continued compliance with government or state bar regulations or requirements; legislation or other changes in the regulatory environment, particularly those impacting the mortgage default industry; unexpected changes adversely affecting the businesses in which we are engaged; fluctuations in customer demand; our ability to manage growth and integrate acquisitions; intensity of competition from other providers in the industry; general economic conditions, including improvements in the economic environment that slows or reverses the growth in the number of mortgage defaults, particularly in the State of Florida; the ability to efficiently expand our operations to other states or to provide services we do not currently provide; the impact and cost of complying with applicable U.S. Securities and Exchange Commission (“SEC”) rules and regulations; geopolitical events and changes, as well as other relevant risks detailed in our filings with the SEC, including our Annual report on Form 20-F for the period ended December 31, 2009, which are available at the SEC’s internet site (http://www.sec.gov).  Forward-looking statements in this press release speak only as of the date of the press release, and we assume no obligation to update forward-looking statements or the reasons why actual results could differ.
 
CONTACT:  DJSP Enterprises, Inc.
Chris Simmons, Director of Investor Relations
954-233-8000 ext. 1744
Cell: 954-294-9095
900 South Pine Island Rd.
Plantation, FL 33324
 
 
 
 
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