Doug Hinson Discusses Recent Stock-Drop Suit in Workforce Management
In the Press
12 November 2007
Doug Hinson discussed a recent stock-drop suit in an article titled “Falling shares may spur lawsuits,” in Workforce Management. The article discusses a lawsuit filed by employees of Countrywide Financial alleging that they lost millions of dollars in their 401(k) accounts after the mortgage lender failed to warn them about the severity of the company's financial troubles. Doug pointed out that, "We are going to see more of these cases as the economy takes a dip and particularly if there is a recession.” He noted that "No plaintiff has ever won one of these cases. While there have been settlements, there are no outright victories.”