Is predicted to encode a protein with the following domains: Dual specificity protein phosphatase domain; Protein-tyrosine phosphatase-like; and Dual specificity phosphatase, catalytic domain. Is an ortholog of C. elegans lip-1. In C. elegans, lip-1 is involved in several processes, including negative regulation of Ras protein signal transduction; positive regulation of vulval development; and vulval cell fate specification.