Daily Archives: September 29, 2008, 11:50 pm

Subprime Securities Class Actions Surging

The onslaught of subprime litigation that is now beginning includes a sizable securities class action component, Compliance Week reports.  Although there is an entire spectrum of subprime-related litigation being filed now (“borrowers are suing lenders, investors are suing institutions that packaged and sold bad loans, shareholders are suing institutions that now are recognizing deep losses, and in some cases institutions…

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Presented Without Comment

From Forbes, Sept. 23, 2008: In fact, some of the most basic details, including the $700 billion figure Treasury would use to buy up bad debt, are fuzzy. “It’s not based on any particular data point,” a Treasury spokeswoman told Forbes.com Tuesday. “We just wanted to choose a really large number.” Read the Forbes article

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This Week’s Upcoming Events

Below are this week’s events, taken from our Events page.  Please click here to submit additional upcoming events to the list. October 2-3, 2008 ABA National Institute on Securities Fraud Hyatt Regency-Crystal City, Arlington, VA October 3, 2008 Seventh Annual Business Law Conference: The Subprime Meltdown: Causes, Consequences and Solutions University of Maryland School of Law, Baltimore, MD

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Federal Grand Jury Investigating Accounting and Disclosure Issues at Freddie Mac and Fannie Mae

Fannie Mae and Freddie Mac stated on Monday that a federal grand jury is investigating accounting and disclosure issues at the companies. Both companies acknowledged receiving subpoenas on Friday from the U.S. Attorney’s office in Manhattan, as well as requests from the SEC that they preserve documents, according to the AP. The AP reports that the grand jury investigation concerns…

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Law Firm Trend Watch: Financial Crisis Practice Groups Update (Akin Gump; Susman Godfrey)

Akin Gump has created a Financial Markets Crisis Working Group of its own and, as you might expect from a group that includes über-blogger and attorney Tom Goldstein (creator of the popular SCOTUS Blog), the group has its own online “Financial Markets Crisis Resource Center.” Susman Godfrey has created a Financial Fraud Task Force.  The firm announced last week that…

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Get the Securities Docket Widget

Now you can put Securities Docket wherever you want it! The Securities Docket “widget” below is a module that you can add to your own website, blog, or social network page.  The widget automatically updates with the latest posts from Securities Docket. Click the “Get this widget” link on the widget below for instructions on how to place it on…

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Court Grants SEC Partial Summary Judgment in Case Against Conrad Black

Judge William Hart of the U.S. District Court for the Northern District of Illinois ruled Thursday that former Hollinger International Inc. chairman Conrad Black violated U.S. securities laws by making false statements about the company’s dealings.  Hart granted partial judgment to the SEC in the case, according to Bloomberg. Black is now serving a 6 1/2 year prison sentence. Black…

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