Friday, January 4, 2008
According to a recent report from Stanford's Securities Class Action Clearinghouse, nearly 20% of 2007 securities class action filings involved the collapse of the subprime markets. In contrast, filings involving GAAP violations were down, 42% in 2007 compared to 66% in 2006. Overall, 2007 filings were up 43% over last year, still a 14% decrease from the average recorded over the past ten years. CFO.com, Subprime Mess Over Takes GAAP Gaffes.