Securities-fraud class action lawsuits fell 24 percent in 2009 as litigation related to the credit crunch, and especially subprime-mortgage losses, began to dry up, according to a study.
“That pig has moved through the python,” Stanford Law School Professor Joseph Grundfest said of the financial traumas that helped trigger the recession. “All of the major cases that were profitable have already been filed,” he said. “The pool is in effect fished out.”
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