I have a 20 second .wav file that I drop directly into Audition. When I right-click it in the Files window and select "New Multitrack Session," it places this clip at the end of a 25 hour session. This makes it impossible to zoom and fine-tune the clip in the multitrack session.
This is what it looks like when first creating it:
And this is the most it can zoom in:
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When the file was recorded it probably used some form of time of day code, although 25hrs does seem to be rather a high figure for this. If you highlight the file and then go to the Properties window, you'll find that the first entry in the list for your clip is whatever the time it's placed in the session is. If you just highlight that figure and put a 0 in instead, the clip will jump to the start of the session, but it won't reduce your massive session. To do that, you then select 'zoom out all axes' and your session should revert to a sensible length again.