The Real Deal Miami

“Foreclosure king” David Stern resigns from DJSP Enterprises

November 22, 2010 01:54PM

Broward County attorney David Stern, whose law firm once handled one-fifth of all foreclosure cases against Florida homeowners, has stepped down from his role as president and CEO of his public company DJSP Enterprises amid allegations that his eponymous law firm misled investors about its case volume and expected earnings. The so-called “foreclosure king” stepped down as chairman of DJSP last month. In a statement announcing his resignation as president and CEO, the company said Stern would now be focusing fully on his law firm. Interim Chairman Stephen Bernstein will become permanent chairman, president and CEO of DJSP, which has laid off more than half of its employees since Stern came under fire and has defaulted on a line of credit with Bank of America. [SFBJ]