The Next Wave Of Securities Litigation: FIN 48

Law360, New York (November 18, 2008, 12:00 AM EST) -- Two of every businessperson’s least favorite issues – class action securities litigation and taxes – may combine in the near future to create the “next wave” of litigation exposure.

The current wave of litigation involving the subprime meltdown has been difficult for many financial service companies, but it involves only a somewhat narrow (albeit important) spectrum of companies.

Part of what is happening with the subprime situation is that companies are being required to “mark to market” securities for which there is now only a thin...
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