Shareholder Suits Face Uncertainty, Higher Hurdles
September 30, 2008
The bailouts and bankruptcies of some of Wall Street’s most prominent financial firms could hinder the claims of plaintiffs who have filed shareholder lawsuits against those companies.
Also, attorneys warn that shareholder actions face much greater difficulty than those filed against Enron Corp. and WorldCom Inc.
This month’s bankruptcy of Lehman Brothers Holdings Inc., the $85 billion loan to American International Group Inc. (AIG) and the bailout of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corp. (Freddie Mac) have, in some cases, put a temporary freeze on the dozens of shareholder lawsuits filed in recent months against those companies.
Read Article Law.com
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