Subprime litigation surges in second quarter

MANAGEMENT

WASHINGTON, DC - Some 607 subprime-related litigation cases have been filed in the US in the 18 months to June 30, 2008, according to the latest figures from Navigant Consulting. This is the highest ever volume of litigation prompted by a financial crisis, and the number of new cases is still growing.

"The number confirms a depressing message - people keep saying the end of the credit crunch is near but these figures show otherwise," says Paul Doxey, managing director at Navigant Consulting, bas

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