Lawsuits Down for U.S. Businesses
The Des Moines Business Record reports that lawsuits are down for U.S. businesses. The report is based upon a survey by the law firm of Fulbright and Jaworski, LLP. Fulbright surveys 250 in-house counsel from major corporations. But don't get too excited about the reduction in case filings. One-third of the corporations surveyed face at least 25 lawsuits and 18 percent are juggling at least 100 actions in U.S. courts. Fulbright says,
The sheer economic stakes of litigation remain daunting. Forty percent of U.S. companies say they were hit with at least one suit in the past year with more than $20 million at issue. Among billion-dollar businesses, 62% were served with at least one $20 million lawsuit.
The study also concludes that patent and product liability cases are on the rise. For most smaller businesses, it is my experience the threat of an employment lawsuit is far greater than just about any other cause of action. In particular wage and hour litigation is on the rise. No surprise the Fulbright study shows employment and labor lawsuits are the most common cause of action facing large corporations as well.
