Larry Bodine Law Marketing Blog

SPEAKERS: Kevin M. LaCroix, Esq., Larry Bodine, Esq. and Michael G. Cummings  
PROGRAM DATE: this Friday September 19, 2008

• 10 AM to 11 AM Pacific Time
• 11 AM to Noon Mountain Time
• Noon to 1 PM Central Time
• 1 PM to 2 PM Eastern Time

LOCATION: on the web, on your computer
MORE INFO: Program Director Laura Kresich; Tel: 773.966.9273 or Lkresich@lawmarketing.com
WEBSITE: http://www.PBDI.org 

Don't delay, register today.

The subprime loan crisis has created a giant wave of commercial litigation that continues to rise, and will surpass the number of cases that grew out of the Savings and Loan crisis of the 1980s-90s. Not only that, hundreds of cases already filed are swamping a much wider range of defendants in all aspects of the financial services industry.

• FACT: The federal government put Fannie Mae and Freddie Mac into conservatorship on September 8.
• FACT: 7.33% of all mortgages are in foreclosure or past due, according to the Mortgage Bankers Association.
• FACT: An initial investment of $100 in January 2007 in securities backed by subprime products would be worth only $5.46 as of last May 2008, according to NERA economic consulting.

Lawyers who want a large and profitable caseload of litigation that will last for years will get smart about subprime loan litigation now. This webinar is designed to do exactly that: identify the causes of action, the plaintiffs and the defendants -- and show you the business development techniques to amass clients in this historic surge of litigation.

Lawyer Kevin M. LaCroix has been lecturing and writing a blog about subprime loan litigation since it began. Mr. LaCroix has been involved in directors’ and officers’ liability insurance issues for over 25 years. He began his career as a coverage attorney and partner at the Washington, D.C law firm of Ross, Dixon and Bell.

Contact Laura Kresich:  (773) 966-9273  

or email Lkresich@LawMarketing.com
Registration fee: $300
Sign up online at http://www.pbdi.org/pages/cceventform.asp?EventID=200 

Topics covered:

Mr. LaCroix will identify the types of cases lawyers build into a successful practice:

• Shareholder class action litigation against publicly traded companies, which comprise nearly half of the subprime loan litigation.
• Securities lawsuits against subprime mortgage lenders, issuers, underwriters, rating agencies, hedge funds, bond insurers and even accounting and law firms.
• Employee ERISA cases against lenders, management firms, home builders and securities issuers alleging ERISA violations that damaged retirement plans.
• "Credit crisis" lawsuits involving student lending, corporate debt, construction project financing and balance sheet/investment access.
• Traditional Notions of what is a “Defense Firm” or “Plaintiff Firm” have been turned on their heads.
• Novel choices of venue.

Most cases are only in the earliest stages, and it is still early enough for law firms to catch the wave of the subprime loan litigation. The wave of litigation is spreading, and Mr. LaCroix will identify five new directions the tidal wave will go.  

"The International Monetary Fund estimates that the credit crisis will cost about $945 billion. The ultimate cost of the crisis [will] certainly will exceed the costs of the last major financial crisis presented by the collapse of the savings and loan industry. This problem began in the subprime mortgage market and then quickly spilled over into other areas of the mortgage industry and the capital markets, culminating in a liquidity and credit crisis that is still unfolding. Unsurprisingly, litigation has been on the rise." -- July 2008 report by NERA Economic Consulting.

Business development experts Michael G. Cummings and  I     will explain how lawyers can capture with profitable legal work.  They will describe:

• A case study of how a law firm created a "Subprime Task Force" that brought in new clients in only three months.
• The 4 business development priorities.
• Capturing subprime litigation from current clients
• Ways to become a well-known industry expert who attracts business by his or her reputation.
• Joining organizations meet clients and referral sources.
• Goal-oriented networking.

You'll come away from this live online presentation with a collection of eight articles:

1. “Subprime Litigation: A Glimpse of the Endgame?”
2. “Credit Crisis Litigation Wave Rolls On”
3. “Bad Economic Vibe Means More Securities Litigation?”
4. “Subprime Litigation Players and Trends”
5. Subprime Investors Sue Rating Agency”
6. “A Slew of New Subprime Lawsuits”
7. “The Credit Crunch Effects Yet to Come”
8. “‘Subprime’ Litigation? More Like Credit Crisis Litigation”

Don't delay, register today.

Contact Laura Kresich:  (773) 966-9273 or email Lkresich@LawMarketing.com

Sign up online at http://www.pbdi.org/pages/cceventform.asp?EventID=200 Registration fee: $300