fact-finding hearings are generally unedifying spectacles, involving as they do
the weird rite of ritual public witness humiliation and accomplishing little
except the suggestion of troubling questions about the kind of
person who manages to get elected to Congress. Some might say that...
The filing of new subprime meltdown and credit
crisis-related securities suits dwindled as 2010 progressed, which some
commentators interpreted to suggest that the litigation filing phenomenon might
finally have run its course. But though we have now begun the fifth year since
the first subprime...
As the worst days of the financial crisis (if not their
ill effects) receded into the past, the accompanying credit crisis-related
litigation wave appeared to lose its momentum. By late 2010, new credit
crisis-related lawsuit filings seemingly had dwindled away. But now at the
midpoint of 2011, two...
NEW YORK - (Mealey's) In what is being called the largest
settlement of a credit-crisis-related securities class action lawsuit, Bank of
America Corp. (BoA) has agreed to a $2.43 billion settlement on claims that it
and certain of its executive officers and directors misrepresented the company's...
In what is the largest settlement so far of an
mortgage-backed securities class action lawsuit filed as part of the subprime
and credit-crisis securities litigation wave, the parties to the consolidated
Countrywide mortgage-backed securities suit pending in the Central District of
LOS ANGELES - (Mealey's) Countrywide Financial Corp. will
pay $500 million to shareholders in three related securities class action
lawsuits to settle claims that it misrepresented the investment quality of
mortgage-backed securities (MBS) in what is being called the largest-ever MBS