Wave Of Subprime Litigation On The Horizon: Experts

Law360, New York (November 1, 2007, 12:00 AM EDT) -- With two of Wall Street's biggest banks announcing multibillion-dollar write-downs due to subprime mortgage exposure, the race to the courthouse has already begun for plaintiffs' lawyers. And although the first wave of shareholder suits hit court dockets recently, experts say that for investment banks, the worst is yet to come.

Lawsuits targeting some of the first banks to falter under the weight of subprime problems have begun to trickle in, with shareholders targeting firms such as Bear Stearns, New Century Financial and Credit Suisse. The shareholder...
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