According to NERA Economic Consulting’s mid-year 2012 report, securities class action lawsuit filings were at or above historical levels in 2012, and though average securities class action lawsuit settlements during the year’s first half approached all times highs, the pace of securities suit settlements is “slowing down markedly.” NERA’s Report, which is entitled “Recent Trends
BankAtlantic
Court Sets Aside Plaintiffs’ Jury Verdict in BankAtlantic Subprime Securities Suit
The jury verdict entered in favor of the plaintiffs in the BankAtlantic subprime-related securities suit has been set aside by the court in a post-trial ruling. On April 25, 2011, Southern District of Florida Judge Ursula Ungaro, in a 112-page opinion (here), granted the defendants’ motion for judgment as a matter of…
Jury Returns Plaintiffs’ Verdict in the BankAtlantic Credit Crisis-Related Securities Suit
In the first securities class action jury verdict to arise out the credit crisis, on Thursday November 18, 2010, the jury in the BankAtlantic securities lawsuit in federal court in Miami returned a verdict in the plaintiffs’ favor, finding seven of the statements at issue to have been false, and awarding damages of $2.41 per…
Commercial Banks: Closures, Lawsuits Continue to Mount
As has now become a familiar routine, this past Friday night the FDIC took control of several more commercial banks. The seven additional banks seized on Friday bring the year to date total number of failed banks to 139, and the total since January 1, 2008 to 304. At the same time, lawsuits involving…
BankAtlantic Subprime Securities Suit Remains on Track For Trial This Week
As discussed in an earlier post, the BankAtlantic subprime related securities lawsuit is headed to trial. According to an October 5, 2010 Law.com article (here), jury selection in the case will begin this Friday, October 8, 2010, in federal court in Miami.
The Law.com article suggests the case has become contentious…