Litigation Makes Like The Economy
March 2, 2009
In this article about top verdicts in 2008 litigation trends for 2008 and 2009, Kurt Stitcher, head of the litigation practice, is quoted regarding the 800-pound gorilla stating “It seems reasonable to anticipate a major increase in litigation between financial institutions. Still, like others, he wondered why there have not been more suits already.
“The 800-pound gorilla is mortgage-backed securities. That is the most colossal, ungodly mess I have ever seen,” Stitcher said.
“Investors are suing companies for lack of due diligence but I am surprised we have not seen more [suits]. It might be people are still figuring who they can blame, if [plaintiffs] have the money to sustain litigation and whether the defendants will have any money to recover. It is conceivable, to the extent these companies have been sued multiple times, people will conclude there is nothing left to go after.”
To view the complete National Law Journal article, please click here. (Subscription Required)