TY - JOUR T1 - Securitization Litigation: <em>Classification of Theories of Liability</em> JF - The Journal of Structured Finance SP - 65 LP - 86 DO - 10.3905/jsf.2010.16.1.065 VL - 16 IS - 1 AU - Cagin Pabuccu Y1 - 2010/04/30 UR - https://pm-research.com/content/16/1/65.abstract N2 - Using a sample of subprime securities actions, this article classifies the liability theories of subprime securitization claims. More than 30 cases, including complaints and other legal documents, were analyzed so as to document the variety of claims of those seeking relief from courts. Given the scope of the subprime crisis, the number of lawsuits in the subprime financial industry has reached a record level since 1995. In the context of securitization litigation, breach of federal securities provisions stands out among the types of claims. Contractual claims also are quite commonplace. The extent of contractual claims is quite broad, ranging from breach of CDO documentation to pooling and servicing agreements. This article also addresses rating agency claims, which were analyzed separately since various liability theories can be classified under this heading.TOPICS: Fundamental equity analysis, technical analysis ER -