Financial Litigation Articles
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October 2009
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Commercial Mortgage Backed Securities (CMBS) investors could see significant losses in the near future.
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September 11, 2009
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A significant amount of action has been taken to help investors who found themselves unable to sell their Auction Rate Securities holdings.
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April 21, 2009
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Financial Services Law360, Securities Law360, & Insurance Law360 by Portfolio Media
In the wake of the current financial crisis, large multiline insurance companies find themselves defending the Directors and Officers and Errors and Omissions policies issued to financial companies and the individual directors and officers.
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February 16, 2009
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The extent to which CDS have contributed to the unfolding financial maelstrom will be examined in the months and years to come. But for any party to a CDS, the immediate concern is knowing what rights and liabilities exist under their agreement.
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January 26, 2009
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The accelerated securitization of mortgage-backed securities (“MBS”) and other mortgage-related assets has created some of the most significant problems of the ongoing economic crisis. When investment banks and other financial institutions pooled numerous different assets, including highly risky sub-prime and Alt-A mortgages, and used them as collateral to create new, securitized financial assets, these assets eventually devalued to such a degree that they became so-called “toxic assets.”
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January 20, 2009
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The Supreme Court's 2008 decision in LaRue v. DeWolff, Boberg & Associates has been hailed as a victory for plaintiffs in ERISA cases and has generated considerable discussion of the potential effects on ERISA litigation, generally. While plan administrators should not ignore the potential implications of the holding, the nuances of the decision, including the final disposition of the case on remand, are also important to consider when determining a prudent initial response.
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2009
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Understanding the Government Bailout Plan: An Immediate Look at the Legal, Governmental, and Economic Ramifications of the Emergency Economic Stabilization Act of 2008, Aspatore Special Report
The recent federal bailout bill, (the Emergency Economic Stabilization Act of 2008) sought to create stability in the financial markets and improve the financial condition of large financial institutions, particularly the money center banks.
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January 2009
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The SEC recently completed a study of fair value accounting including SFAS 157 as mandated by the Emergency Economic Stabilization Act of 2008. The SEC decided not to suspend use of SFAS 157, but rather suggested improvements to the application of SFAS 157. This article summarizes the purpose and application of SFAS 157 as well as the current positions of the FASB and the SEC.
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December 29, 2008
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On February 13, 2008, the estimated $350 billion auction rate securities market collapsed. The collapse left investors unable to liquidate an investment that most had originally chosen based upon its characterization as highly liquid, short-term, safe, and as a cash-equivalent
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December 3, 2008
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From the United States District Court for the Southern District of New York comes a timely warning to credit default swap (CDS) protection buyers and sellers about the financial loss that can be sustained by a party that does not understand its precise obligations under these complex arrangements.
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