Number Of Subprime Suits ‘Historic’ At 576: Report

Law360, New York (March 11, 2009, 12:00 AM EDT) -- A record number of subprime-related lawsuits — in areas including securities, bankruptcy and employment — were filed in federal courts in 2008, doubling the number filed in 2007 and topping the total number of cases stemming from the savings-and-loan collapse in the early 1990s, a new report shows.

The total number of suits filed over the credit crisis since January 2007 is a staggering 866, and the litigation wave shows little signs of slowing, with two new cases being filed for every one that is dismissed,...
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