The number of subprime-related class-action lawsuits filed during the first half of 2008 has surpassed those filed in all other areas combined, a recently released report says. Cornerstone Research and Stanford Law’s Securities Class Action Clearinghouse found that the vast majority of financial class actions filed during the first half of the year stemmed from subprime issues. The report also notes that the median loss leading to these class actions was $243 million and that losses haven’t been so high since the flurry of class actions between 2000 and 2002.
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You can read the report HERE.