Wall Street continues to be the hot topic of the week as lawsuit buzz is flying high. However, plaintiffs who have filed shareholder lawsuits against the most prominent financial firms may come to a halt indefinitely. Companies such as Lehman Brothers Holdings Inc., the $85 billion loan to American International Group Inc. and the bailout of the Federal Home Loan Mortgage Corp. (Freddie Mac) and the Federal National Mortgage Association (Fannie Mae), have put a temporary freeze on the dozens of shareholder lawsuits filed against them.

Securities fraud and breach of fiduciary duties are the drive behind suits against the big guns who went off for the last time. However, many defense attorneys anticipate that “plaintiffs could have a difficult time blaming specific companies and their individual directors and officers for what could be interpreted as uncontrollable economic forces that caused the unprecedented collapse of so many firms.” Attorneys also warn that shareholder suits going up against Enron Corp. will face the most difficult time.

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