Who Knew? The Year In Scienter

Law360, New York (January 9, 2009, 12:00 AM EST) -- The past year marked the resurgence of securities class action litigation. The 210 class action filings in 2008 were the highest since 2004 and broke a nearly three-year downward trend in filings. The reason for the increased filings is obvious — the unprecedented mayhem in the nation’s financial industry.

Given that virtually every publicly traded financial or financial services firm has been thoroughly sued, the pertinent question becomes what is going to happen to those lawsuits in the next couple of years. This is where 2008...
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