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Join the Securities Litigation and Enforcement Group on LinkedInMarch 11 Webcast — The Subprime Boomerang: After the Writedowns Comes the Litigation
On March 11, 2009, Navigant Consulting is sponsoring a webcast entitled “The Subprime Boomerang: After the Writedowns Comes the Litigation” that will examine the landslide of subprime litigation that is now upon us. It’s been two years since concerns over subprime mortgages threw off the early sparks that eventually grew into the current global credit […]
March 11 Webcast — The Subprime Boomerang: After the Writedowns Comes the Litigation
On March 11, 2009, Navigant Consulting is sponsoring a webcast entitled “The Subprime Boomerang: After the Writedowns Comes the Litigation” that will examine the landslide of subprime litigation that is now upon us. It’s been two years since concerns over subprime mortgages threw off the early sparks that eventually grew into the current global credit […]
March 11 Webcast — The Subprime Boomerang: After the Writedowns Comes the Litigation
On March 11, 2009, Navigant Consulting is sponsoring a webcast entitled “The Subprime Boomerang: After the Writedowns Comes the Litigation” that will examine the landslide of subprime litigation that is now upon us. It’s been two years since concerns over subprime mortgages threw off the early sparks that eventually grew into the current global credit […]
SEC: “Stay Tuned” for More Subprime-Related Enforcement Actions
Rosalind Tyson, regional director of the SEC’s Los Angeles office, stated today at PLI’s 2009 SEC Speaks that the SEC expects to file additional subprime-related enforcement actions and has dozens of “very active” investigations underway. “We expect to be filing additional actions in this space, stay tuned,” she said. Reuters reports that Tyson said the […]
DOJ, FBI Officials Say Barrage of “Perp Walks” Coming in 2009
To date, the financial crisis has resulted in high-profile “perp walks” in just two cases: the two Bear Stearns hedge fund managers charged with securities fraud, and the two Credit Suisse brokers also charged with securities fraud in selling ARS. That is about to change, top law enforcement officials told Fox Business News. A DOJ […]
SEC Finalizes $30 Billion ARS Settlements, Largest in SEC History
The SEC announced today that it has finalized settlements with Citigroup Global Markets, Inc. (C) and UBS Securities LLC and UBS Financial Services, Inc. (UBS) that will provide nearly $30 billion to tens of thousands of customers who invested in auction rate securities before the market for those securities froze in February. The SEC stated […]
Reserve Primary Fund Threat “Ices” Shareholder Claims
The Reserve Primary Fund, the money market fund that “broke the buck” and quickly became a defendant in numerous securities class actions, has presented its litigious shareholders with a choice: be patient and perhaps receive 98.5 cents for each dollar they had in the money market fund; or continue with their lawsuits against the fund […]
Boutique Firms Stake Out Growing Practice Suing Banks for Subprime Losses
Companies in both the US and the UK with huge claims against banks for subprime mortgage losses have largely been unable to find large law firms willing to take these cases due to conflicts issues. Most such law firms already represent the large banks. Plaintiffs, then, are turning to litigation boutique firms such as Quinn […]
Advisen Report: “The Subprime Mortgage Meltdown, the Global Credit Crisis and the D&O Market”
Advisen Ltd. has produced an interesting new report entitled “The Subprime Mortgage Meltdown, the Global Credit Crisis and the D&O Market.” The report raises Advisen’s forecast of insured losses to D&O insurers as a result of the meltdown of the subprime mortgage market and the ensuing credit crisis to $5.9 billion. Its prior forecast in […]
Video: 60 Minutes Digs Deeper into the “Legalized Gambling” of Credit Default Swaps
Three weeks after running its first video on credit default swaps, 60 Minutes has returned to the subject with another in-depth analysis of CDS. Frank Partnoy, a law professor at the University of San Diego, explains the concept of a derivative to 60 Minutes, as basically a “side bet”: Think of it for a moment […]