Category Archives: class actions

Newest Navigant Study Released: Shows Unprecedented Volume of Credit Crisis Litigation

Navigant Consulting, Inc. (NCI), a global consulting firm that releases quarterly reports on subprime mortgage and related case filings in the federal courts, released their newest study today, and the results are staggering (see MSN Money article here). The report, … Continue reading

Posted in broader credit crisis, causes of the crisis, class actions, investors, lawsuits, litigation, misrespresentation, Navigant Consulting, Savings and Loan crisis, securities, subprime | Leave a comment

Plaintiffs Survive Motions to Dismiss in Major Subprime Class Actions Against New Century and Countrywide

The American Lawyer has reported that two important rulings were handed down earlier this month in the United States District Court in Los Angeles denying motions to dismiss class actions against former mortgage behemoths Countrywide and New Century. The Countrywide … Continue reading

Posted in bankruptcy, class actions, Countrywide, IndyMac, lawsuits, litigation, loss causation, mortgage fraud, motions to dismiss, New Century | Leave a comment

Desperate to Stem Tide of the Credit Crisis, Fed and Treasury Propose What Could Be Largest Bailout in U.S. History. How Far Will the Fed Go?

In another desperate move to inject liquidity into the marketplace, the heads of the Fed and the Treasury began discussions with Congress late yesterday on legislation that would allow the Government to purchase hundreds of billions of dollars of depressed … Continue reading

Posted in acquisitions, AIG, bailout, Bear Stearns, BofA, class actions, Fannie Mae, Federal Reserve, Freddie Mac, Government bailout, JPMorgan, jurisdiction, Merrill Lynch, shareholder lawsuits, TARP, Treasury | Leave a comment

Major Ruling on Borrower Class Actions on the Way

The Washington Post published this article today about the Seventh Circuit Court of Appeals’ impending decision on whether homeowners can bring class action lawsuits against lenders to cancel predatory, misleading, or defective loans. The case was brought by a Wisconsin … Continue reading

Posted in appeals, class actions, predatory lending | Leave a comment