Behind the scenes of the subprime and credit crunch hooplah, subprime-related class action lawsuits have been quietly building up a massive head. Navigant Consulting broke down the numbers on the gathering storm that will take years to dissipate:

• There are 448 subprime related federal lawsuits as of March 31 2008
• 170 federal lawsuits were filed in Q1 2008, vs 181 total filed in the last 6 months of 2007
• The Savings and Loan scandal of the 90’s resulted in 599 lawsuits
• 57% involved at least one Fortune 1000 company
• 46% of the subprime related class action lawsuits are brought by borrowers
• 42% of those are related to disclosures made at loan origination

The Subprime Litigation Tsunami: Are We Dealing with Case Overload? [DSNEWS]
(Photo: Getty)

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