A litigation army is massing at major law firms to fight the wave of investigations, class actions and bankruptcies that are expected in the coming months — and years — in the wake of the subprime-mortgage mess.
Skadden, Arps, Slate, Meagher & Flom alone says it has roughly 100 lawyers across the firm working on subprime-mortgage fallout for clients such as Wells Fargo; O’Melveny & Myers has about 40 lawyers working for clients such as Option One Mortgage Corp. and Ocwen Federal Bank; and Kirkpatrick & Lockhart Preston Gates Ellis has roughly 50 lawyers delving into a bankruptcy investigation, led by partner Michael Missal, of subprime lender New Century Financial Corp.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
