Litigation Shifts As Credit Crunch Deepens: Report

Law360, New York (June 18, 2009, 12:00 AM EDT) -- As the credit crisis deepens, litigation surrounding it has shifted in target from subprime-related companies to asset management firms and begun focusing on more complex financial instruments such as collateralized debt obligations and credit default swaps, according to a recent report.

Financial institutions have taken more than $1 trillion in credit losses and write-downs, the Federal Deposit Insurance Corp. has taken over 48 U.S. banks and markets around the world have become highly volatile since the credit crisis began, said the report by NERA Economic Consulting,...
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