Subprime Suits Surpass S&L Benchmark: Study

Law360, New York (September 11, 2008, 12:00 AM EDT) -- Litigation stemming from the subprime mortgage mess has surpassed the record number of suits filed in the wake of the savings-and-loan debacle of the early 1990s, a study has found.

Inflated by the rash of lawsuits that followed the collapse of the auction rate securities market in February, the number of subprime-related complaints filed in federal courts has now exceeded the watershed high of 559 filed after the S&L crash, according to the study by Chicago-based Navigant Consulting Inc.

Navigant said 607 subprime-related cases had been...
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