PLANTATION, Fla., Aug. 4, 2010 (GLOBE NEWSWIRE) -- DJSP Enterprises, Inc. (Nasdaq:DJSP), one of the largest providers of processing services for the mortgage and real estate industries in the United States, today announced that Howard S. Burnston has accepted the position of Vice President, General Counsel and Corporate Secretary effective August 5th 2010.
Prior to joining the company, Mr. Burnston was a shareholder with Gunster, Yoakley, & Stewart, P.A., a Florida law firm, where he practiced for 12 years, most recently as chairman of the firm's Securities and Corporate Governance Practice Group. Mr. Burnston received his Juris Doctorate from New York University School of Law, his Masters of Business Administration in Banking and Finance from Hofstra University, and his Bachelor of Science in Business Administration from the State University of New York at Albany. Mr. Burnston is a member of the Florida Bar.
"We are very pleased to add such a seasoned professional to our executive team," said David J. Stern, Chairman and CEO of DJSP Enterprises. "Howard's business experience and legal expertise in the areas of securities and corporate governance will add tremendous value to DJSP and our shareholders."
Mr. Burnston stated, "The company is operating in a dynamic and challenging business environment. I believe the company has a promising future and I am excited to join the impressive management team assembled at DJSP."
About DJSP Enterprises, Inc.
DJSP Enterprises, Inc. (the "Company") 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. The Company provides 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. The Company's principal customer is the Law Offices of David J. Stern, P.A., whose clients include all of the top 10 and 17 of the top 20 mortgage servicers in the United States, many of which have been customers for more than 10 years. The Company has approximately 1,000 employees and is headquartered in Plantation, Florida, with additional operations in Louisville, Kentucky and San Juan, Puerto Rico. The Company's 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 the U.S. operation.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, about DJSP Enterprises, Inc. Forward-looking statements are statements that are not historical facts. Such forward-looking statements, based upon the current beliefs and expectations of the Company's management, 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 the Company or its affiliates, which, because of the nature of the Company's business, have happened in the past to the Company and the Law Offices of David J. Stern, P.A.; 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 the Company is engaged; fluctuations in customer demand; the Company's ability to manage rapid growth; 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 its operations to other states or to provide services not currently provided by the Company; the impact and cost of complying with applicable U.S. Securities and Exchange Commission ("SEC") rules and regulations, many of which the Company will have to comply with for the first time; geopolitical events and changes, as well as other relevant risks detailed in the Company's filings with the SEC, including its Annual Report on Form 20-F for the period ended December 31, 2009, as amended, and in particular those listed under "Item 3 Key Information – Risk Factors". The information set forth herein should be read in light of such risks. The Company does not assume any obligation to update the information contained in this press release.