Subprime mess good - for securities attorneys

Times are tough for a lot of industries. But the mortgage meltdown has been a boon for some folks, namely securities attorneys.

The number of subprime-related lawsuits is soaring, says the newly-released PricewaterhouseCoopers 2007 Securities Litigation Study. (National Law Journal via ABA Journal).

Last year, 37 subprime-related class action suits were filed, up from 23 the year before.

The increase has been driven mainly by three areas: three industries were the biggest targets: technology companies, which accounted for 25 percent of securities cases; banking and financial services with 21 percent; and pharmaceutical companies with 13 percent, the article stated.

Lawyers USA did a story looking at the business being driven to securities attorneys in the wake of the housing bust. (Subscribers can read it here). Many firms now have practice groups focused solely on subprime related legal matters.