U.S. lenders already facing intense scrutiny from lawmakers and regulators over questionable foreclosure practices will likely face class-action lawsuits on behalf of thousands of homeowners nationwide.

Bruce Simon, a class-action attorney with Pearson Simon Warshaw & Penny LLP in San Francisco, said a filing from his firm is imminent, while two other prominent firms said they were also exploring filing class-actions.

So far, most of the courtroom activity over reports of shoddy documents used by lenders in foreclosure proceedings has come in the form of defenses mounted by individual homeowners, or limited class actions filed in state courts.

However, a lawsuit on behalf of homeowners nationwide could seek a court order that would suspend foreclosures much more broadly, class-action lawyers said.

"We are all hands on deck at the moment,'' said Simon of Pearson Simon Warshaw & Penny.

Another firm, Lieff Cabraser Heimann & Bernstein LLP, in San Francisco, is set to decide "within the next two weeks'' whether to file a lawsuit, according to Eric Fastiff, a partner there. He said the firm, which is on the steering committee for BP Plc oil spill litigation and also plays a leading role in lawsuits against Toyota Motor Corp over acceleration problems, currently has five attorneys and two paralegals assigned to the foreclosure issue.

There's little argument that this week's election and Fed meeting are hugely important for the direction of the market. But what happens next?

As the lyric went in the 1970s song, "There's got to be a morning after." And for the markets and the economy, the mid-term elections and monetary easing decision from the Federal Reserve Open Market Committee will come and go, leading to a morning after and decisions to be made.

Some market pros already have their eyes on a fresh set of challenges that will arise once the Republicans stage their likely landslide and the Fed starts printing money again.

"Unlike what happened in the soft-patches of the mid-1980s and again in the mid-1990s, the economy today is just a shock away-even negative fiscal shocks-from slipping back into contraction mode," warned David Rosenberg, economist and strategist at Gluskin Sheff in Toronto, in his daily note.

Here is a fast list of five factors that will influence the market ahead:

1. A Trade War

In addition to aiming at getting more money flowing in the economy, the Fed's aggressive quantitative easing (QE) policies have hammered at the dollar and riled up some US trading partners.

Another round of QE isn't likely to sit well with those tiring of ballooning US debt and the nation's attempts to keep its exports cheap by weakening its currency.

"The risk that the markets are not fully appreciating is what happens if the Fed becomes very aggressive and heavy asset purchases cause further weakness in the U.S. dollar, which then touches off a currency war ...followed by a trade war?" Rosenberg asked. "The case for gold as a hedge against this more-than-remote possibility is pretty strong."

http://finance.yahoo.com/news/After-the-Fed-and-Election-cnbc-2355052570.html?x=0&sec=topStories&pos=main&asset=&ccode=

A class-action lawsuit filed by Century 21 franchisees against Century 21 Real Estate Corp. and parent company Cendant is moving forward following a decision of the New Jersey Appellate Division.

In August, New Jersey Superior Court Judge Robert J. Brennan certified a class of current and former Century 21 franchisees in a lawsuit alleging breach of contract and other claims against their franchisor, Century 21 Real Estate Corp., as well as its parent company, consumer and business services provider Cendant Corp. Currently, Century 21 is owned by Cendant spin-off Realogy Corp.

Following Judge Brennan’s ruling, Cendant asked the New Jersey Appellate Division to reconsider the class certification decision. On October 15, 2010, the appellate court announced it would not hear the appeal, which clears the way for the case to go to trial.

“We are pleased that the case will now move forward as originally directed by Judge Brennan,” says attorney Dan Drachler of Zwerling, Schachter & Zwerling, who represents the franchisees along with firm co-founder Robert S. Schachter.

“As a result of Cendant’s actions, Century 21 franchisees have suffered damages that may total in the hundreds of millions of dollars,” says Mr. Schachter.

According to the lawsuit, Cendant failed to provide the level of services to Century 21 franchisees required by their agreements. Additionally, the lawsuit claims that contributions to a national advertising fund, which topped more than $40 million annually, were misappropriated and diverted to uses other than the benefit of Century 21, including the promotion of Century 21’s Cendant-owned real estate competitors. Shortly after the purchase of Century 21, Cendant also acquired Coldwell Banker and ERA.

Judge Brennan’s order certified a class of current and former Century 21 franchisees during the period from August 1995 to April 2002 whose franchise agreements contain a New Jersey jurisdiction clause.

The franchisee plaintiffs also are represented by New Jersey-based Keefe Bartels LLC and the Fort Lauderdale, Fla., office of Adorno & Yoss.

Zwerling, Schachter & Zwerling, LLP, represents clients nationwide in financial-related class-action lawsuits. With offices in New York City; Garden City, N.Y.; and Seattle, the firm currently plays a leading role in numerous major securities and complex commercial litigations pending in federal and state courts. To learn more, please visit the firm’s website at http://www.zsz.com.

Goldfarb Branham LLP is investigating potential shareholder claims against the officers and directors of Johnson & Johnson due to lack of internal controls that led to phantom recalls and several class action lawsuits. Johnson & Johnson investors are encouraged to contact the firm at 877-583-2855 or hlindley@goldfarbbranham.com to learn about their rights.

“A class action complaint alleges that defendants received numerous complaints that Tylenol products made in Puerto Rico had a ‘musty’ odor, but failed to conduct an adequate investigation or notify the Federal Drug Administration,” securities lawyer Hamilton Lindley said. “It also alleges that company executives failed to take corrective actions when foreign materials were found in a Pennsylvania manufacturing facility. Additionally, when defendants learned of problems with its Motrin drug, they sent contractors to stores to purchase the product instead of mentioning a recall.”

Goldfarb Branham LLP is investigating a derivative lawsuit against company officers and directors for allowing this to occur. Derivative lawsuits often lead to restored confidence in companies involved in financial scandal and a resulting increase in shareholder value. Concerned shareholders who still hold their shares are urged to contact attorney Hamilton Lindley at 877-583-2855 or hlindley@goldfarbbranham.com.

Bernstein Litowitz Berger & Grossmann LLP today announced that it filed a class action lawsuit in the United States District Court for the Northern District of Illinois on behalf of purchasers of PrivateBancorp, Inc.'s publicly traded common stock between November 2, 2007 and October 23, 2009, inclusive (the "Class Period"), and investors who purchased or otherwise acquired PrivateBancorp's common stock pursuant and/or traceable to registered public offerings conducted on or about June 4, 2008 and May 11, 2009. The case is captioned City of New Orleans Employees' Retirement System v. PrivateBancorp., Inc., No. 10-cv-6826 (N.D. Ill.).

The claims alleged in the complaint are asserted against PrivateBancorp, certain of its senior executives and directors, the underwriters of PrivateBancorp's 2008 and 2009 Offerings, and its independent auditor.

PrivateBancorp is a Chicago-based financial services company that concentrates on commercial banking and private banking for high-net worth individuals and families.

The action alleges that during the Class Period the defendants violated the federal securities laws by engaging in improper behavior and by issuing materially false and misleading statements regarding PrivateBancorp's business and financial results that harmed the Company's investors. Specifically, the complaint alleges that the defendants misrepresented the Company's Strategic Growth and Transformation Plan (the "Growth Plan") which led PrivateBancorp to generate hundreds of millions of dollars in commercial and industrial loans that were high risk, and that the Company misrepresented the quality of its residential loan portfolio, which was suffering severe deterioration. As a result of defendants' false statements, PrivateBancorp's stock traded at artificially inflated prices throughout the Class Period. While PrivateBancorp's stock was artificially inflated, the Company conducted two public offerings, resulting in hundreds of millions of dollars in net proceeds to the Company.

Prior to the start of trading on October 26, 2009, PrivateBancorp shocked investors by reporting third quarter 2009 earnings results that fell far short of expectations. Despite having written off in excess of $100 million in bad loans in January 2009, the Company revealed that it held almost $400 million in nonperforming loans as of the third quarter 2009. PrivateBancorp further disclosed that its elevated levels of nonperforming loans were originated under the Growth Plan. In response to the Company's October 26 disclosure, PrivateBancorp stock fell over 37%, dropping from $19.00 per share to $11.98. The action alleges claims under the Securities Act of 1933 (the "Securities Act") and the Securities Exchange Act of 1934 (the "Exchange Act").

If you wish to serve as lead plaintiff for the Class, you must move the Court no later than 60 days from today. Any member of the proposed class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain a member of the proposed class.

The City of New Orleans Employees' Retirement System is represented by BLB&G, a firm of over 50 attorneys with offices in New York, California, and Louisiana. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, Gerald H. Silk of BLB&G at 212-554-1400, or via e-mail at jerry@blbglaw.com. Since its founding in 1983, BLB&G has built an international reputation for excellence and integrity. Specializing in securities fraud, corporate governance, shareholders' rights, employment discrimination and civil rights litigation, among other practice areas, BLB&G prosecutes class and private actions on behalf of institutional and individual clients worldwide. Unique among its peers, BLB&G has obtained several of the largest and most significant securities recoveries in history, recovering billions of dollars on behalf of defrauded investors. More information about BLB&G can be found online at www.blbglaw.com.