PricewaterhouseCoopers has released a report showing an increase in federal class-action shareholder lawsuits last year, after two straight years of decline.
During 2007, 163 cases were filed, compared to 109 in 2006, 169 in 2005 and 206 in 2004. Subprime-related cases accounted for 37 of 163 cases filed in 2007, or 23 percent, and represented 29 percent of the total number of cases filed in the second half of 2007. PwC expects to see the proportion rise even more this year. "We will see the full fallout in 2008," said PwC partner Grace Lamont.
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