Thursday, April 17, 2008

Shareholder lawsuits on the increase


PwC released a report showing an increase in federal class-action shareholder lawsuits in 2007 compared to a decline in the two previous years.

Shareholder lawsuits are on the increase, PwC has said.

In 2007 163 cases were filed in the US, compared with 109 in 2006.

That followed two years of decline, with 169 suits filed in 2005 and 206 in 2004.

Of those filed in 2007 37 were subprime related, evidence of the court room impact of the credit crunch.

PwC suggested such claims will surge this year: 'We will see the full fallout in 2008,' said PwC partner Grace Lamont.

See full Article.