Navigant Consulting released a study today showing that 607 subprime-related cases were filed in federal courts over the 18 months though June 2008. Of the 607 subprime-related cases, 310 were filed in the first six months of 2008 alone.
The study showed that securities cases were the most common type of subprime-related cases in the second quarter of 2008, accounting for 41 percent of all filings. The securities cases include 11 new ARS cases filed in the second quarter of 2008, bringing the total to 22 ARS cases year to date. The law firm Girard Gibbs & De Bartolomeo was involved as counsel in 11 of the 22 ARS cases, the most of any law firm according to the study.