Responding to an increasing demand from clients seeking guidance on the legal complexities associated with the collapse of the subprime lending market, Boston-based Mintz, Levin, Cohn, Ferris, Glovsky and Popeo PC announced it has established a dedicated subprime practice group.
According to the firm, the new group taps into the expertise of more than two dozen attorneys across multiple offices and practice areas, including litigation, securities, bankruptcy and restructuring, structured finance, governmental investigations, insurance coverage, white collar crime, and real estate.
Richard Moche, manager of the firm's public finance section, says that entities potentially affected by the crisis include, among others, market participants responding to investigations by governmental authorities, insurers responding to claims against directors and officers (D&O) under D&O policies, financial institutions defending claims asserting inadequate disclosures of the risks related to the subprime market in the offering of securities backed by subprime mortgages, and companies defending against shareholder suits alleging inadequate disclosure of the exposure to subprime credit issues.