An annual report released on Tuesday by Stanford Law School's Class Action Clearinghouse and Cornerstone Research found that securities class action suits fell 24 percent in 2009 as litigation related to the credit crunch and subprime crisis began to slow. "That pig has moved through the python," Stanford law professor and Clearinghouse founder Joseph Grundfest said. "All of the major cases that were profitable have already been filed. The pool is in effect fished out."
Securities Class Actions Falling Off as Credit Crisis Dwindles
The American Lawyer
January 6, 2010