Upholding Pleading Standards In A Down Economy

Law360, New York (February 2, 2009, 12:00 AM EST) -- The subprime mortgage crisis has wreaked havoc. Massive write-offs dominate the news; some firms have filed for bankruptcy protection; others have been merged in shotgun weddings. And, predictably, the securities class action plaintiffs bar has sued virtually every financial firm on Wall Street as well as other public companies collaterally related to the financial meltdown.

This phenomenon is not unique. The plaintiffs bar sued most players in the savings and loan arena of the late 1980s. They sued the dot-coms after the bubble burst in 2001....
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