Subprime Mortgage Class Actions: The Emerging Litigation Threat
Pursuing and Defending Lawsuits Arising From the Mortgage Meltdown
Recording of a 90-minute CLE teleconference with Q&A
Conducted on Tuesday, February 17, 2009
Recorded event now available
This seminar will examine current trends in subprime mortgage class action litigation to provide insights and perspectives for plaintiff and defense counsel to develop effective litigation and settlement strategies.
Description
Class action lawsuits against brokers, lenders, servicers and appraisers have exploded following the subprime mortgage meltdown. Allegations relate to predatory lending, mortgage modification, loan servicing, and misrepresentation about the financial health of lenders and the soundness of loans.
Although most of the lawsuits have not yet reached final judgment, a significant settlement in a predatory lending case involving Countrywide Financial Corp. in October is instructive for class action counsel.
As trends in litigation, judgments and settlements in this arena continue to emerge, counsel on both sides of multi-party and class action suits are hungry for guidance in developing their own strategies.
Listen as our panel of class action attorneys — both plaintiff and defense — examines current trends in subprime mortgage class action litigation and provides insights and perspectives for developing effective litigation and settlement strategies.
Outline
- Subprime mortgage class actions — current trends
- Attorney General trends
- Municipal litigation
- Equal Credit Opportunity Act/Fair housing litigation
- Strategies for pursuing subprime mortgage class actions
- Strategies for defending subprime mortgage class actions
Benefits
The panel will review these and other key questions:
- What are the critical considerations for plaintiffs' counsel pursuing subprime mortgage class actions?
- What are the key arguments for defense counsel to defeat certification in subprime mortgage cases?
- What settlement strategies have proven successful in subprime mortgage cases?
Faculty
Brian Brooks,
Partner
O'Melveny & Myers, Washington, D.C.
He is a member of the Class Actions, Mass Torts, and Aggregated Litigation Practice. He focuses on complex financial services litigation and regulatory matters, including class actions. He is a frequent speaker at financial services litigation events.
Andrew L. Sandler,
Partner
Skadden Arps Slate Meagher & Flom, Washington, D.C.
He leads the firm's Consumer Financial Services Enforcement and Litigation practice. He has been lead defense counsel in over 50 class action cases in federal and state courts throughout the country. Recently, much of his enforcement, litigation and counseling practice has focused on representing lenders, servicers and financial institutions on issues related to the subprime mortgage industry.
Gary Klein,
Partner
Roddy Klein & Ryan, Boston
He is a nationally recognized expert on consumer law and litigation. He focuses on unfair business practice cases, Truth in Lending, consumer protections for predatory lending and lending discrimination. He has been counsel in class action consumer litigation since 1986.
Ordering
Online CLE - Audio Recording
Includes audio streaming of full program plus handouts (available 24 hours after live seminar).
CLE:
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Includes full event recording plus handouts (available after live seminar).
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Customer Reviews
The speakers spoke in an understandable format with lots of examples.
Bill Zornes
Cimarron Lumber
The subject matter was covered in a very understandable way.
Constance Kotula
CarVal Investors LLC
The seminar covered an important subject with major policy implications and the speakers addressed it completely with professionalism and thorough knowledge.
Allyn Z. Lite
Lite DePalma Greenberg, LLC
Excellent topics, discussed very well.
McClure King
Dearborn National
I found the content very useful and was impressed by the high quality of each speaker's ability to articulate his presentation.
Andrew Lillie
Hogan & Hartson
Class Action Law Advisory Board
Partner
Reed Smith
Partner
Hagens Berman Sobol Shapiro
Partner
O'Melveny & Myers
Partner
Alston & Bird
Partner
Goldman Scarlato & Karon
Partner
Weinstein Kitchenoff & Asher
Partner
Winston & Strawn
Partner
Edwards Wildman Palmer
Partner
King & Spalding
Professor
Harvard Law School
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