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Financial Crisis Litigation Wave Forming Its Crest

Law360, New York (March 6, 2009, 12:00 AM EST) -- Massive financial calamity is often accompanied by great, crashing waves of litigation. Although the raw numbers of lawsuits filed following the generalized meltdown of the financial markets are up at historic levels, those expecting an even bigger wave shouldn't put away their surfboards yet.

According to a report last week by Navigant Consulting, 576 subprime-related cases were filed in 2008, twice the number filed in 2007 and more than the 559 cases handled by the Resolution Trust Corp. during its six-year existence following the savings and...
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