In a high-profile class action case involving a leading financial institution, a federal circuit court affirmed a lower court’s order denying class certification. Counsel for a prominent financial institution retained Cornerstone Research and Christopher James of the University of Florida to assess whether the defendant had discriminated against minority borrowers in its mortgage lending practices. The plaintiffs argued that the defendant had a pricing policy for its loans that resulted in higher costs for a purported class of borrowers. Professor James presented economic evidence showing flaws in the plaintiffs’ regression analysis. Professor James conducted statistical analyses using individual-level data, which showed that borrowing and lending are multidimensional processes involving m

Join for free to read