Friday, December 21, 2007
Class action filings in 2007 are up 58% over 2006, according to a NERA study. A total of 198 were filed through Dec. 15, 38 related to subprime mortgages. Even excluding subprime mortgages and backdating stock options, class action filings are up almost 40%. Average settlements for 2007 are $33.2 million, compared with $22.7 million in 2006. NYTimes, Class-Action Cases Rise, Fueled by Subprime Troubles.