Securities Litigation and the Housing Market Downturn

DSpace/Manakin Repository

Securities Litigation and the Housing Market Downturn

Citable link to this page


Title: Securities Litigation and the Housing Market Downturn
Author: Ferrell, Frank A.; Saha, Atanu

Note: Order does not necessarily reflect citation order of authors.

Citation: Allen Ferrell and Atanu Saha, Securities Litigation and the Housing Market Downturn, 35 J. Corp. L. (2009-2010).
Full Text & Related Files:
Abstract: This paper addresses one of the key issues – the foreseeability of the housing market downturn that began in September of 2007 and intensified in the fourth quarter of 2007 – that must be addressed in assessing the extensive securities class action litigation that has been filed against financial institutions (and others) seeking to recover damages for investor losses arising out of the credit market crisis. We begin our analysis of this issue by first discussing the legal centrality of this issue to much of this litigation. We then turn to answer the question of when the housing market downturn became foreseeable by analyzing housing prices (regional and nationwide), housing sales, housing future contracts, and various market spreads such as the ABX triple A indexes. We conclude that these data are consistent with the view that the housing market downturn was in fact not foreseen by the market prior to the fourth quarter of 2007.
Published Version:
Other Sources:
Terms of Use: This article is made available under the terms and conditions applicable to Open Access Policy Articles, as set forth at
Citable link to this page:
Downloads of this work:

Show full Dublin Core record

This item appears in the following Collection(s)


Search DASH

Advanced Search