Thanks To Subprime Woes, Securities Class Actions Are Up
We had a dream last night in which Mark Twain told us, “Reports of the death of securities fraud class-actions are greatly exaggerated.”
And then, funnily enough, we read about a couple of studies in the papers this morning — here and here – that echoed Mr. Twain’s remark: Class actions are up, largely due to the subprime meltdown. Lawyers filed 166 securities-fraud wannabe class actions in 2007, a 43% increase over last year’s filings, according to a joint study by Stanford Law and Cornerstone Research that’s set for release in January.lire la suite
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- Thanks To Subprime Woes, Securities Class Actions Are Up
We had a dream last night in which Mark Twain told us, “Reports of the death of securities fraud class-actions are greatly exaggerated.” And then, funnily enough, we read about a couple of studies in the papers this morning — here and here – that echoed Mr. Twain’s remark: Class actions are up, largely due to the subprime meltdown. Lawyers filed 166 securities.
- Subprime Meltdown Class Action Lawsuits On Rampage [Class Action]
Behind the scenes of the subprime and credit crunch hooplah, subprime-related class action lawsuits have been quietly building up a massive head. Navigant Consulting broke down the numbers on the gathering storm that will take years to dissipate: · There are 448 subprime related federal lawsuits as of March 31 2008 · 170 federal lawsuits were filed in Q1 2008, vs 181 total filed in the last 6 months of 2007 · The Savings and Loan scandal of the 90's resulted in 599 lawsuits · 57% involved at least one Fortune 1000 company · 46% of the subprime related class action lawsuits are brought by borrowers · 42% of those are related to disclosures made at loan origination The Subprime Litigation Tsunami.
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Reuters MOLT - PARIS (Reuters) - La Societe generale a declare vendredi etre prete a se defendre "vigoureusement" contre les plaintes en nom collectif (class actions) deposees aux Etats-Unis dans le cadre de la crise des subprimes et de la fraude recente imputee au trader Jerome Kerviel.
- SocGen veut se defendre vigoureusement contre les class actions
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