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But while the emerging litigation will easily match the Enron and WorldCom lawsuits in scope, it may not prove as titillating as Enron did.
Grassley said Geithner's decision not to take action to end the dominance of Libor, or at least inform the American public, has contributed to emerging litigation that threatens to clog U.S. courts with multi-billion dollar class action lawsuits and losses on interest rate swaps by local, municipal, and state governments which may also lead to more lawsuits.
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But internal Purdue documents, which have emerged through litigation, show that even before the company received F.D.A. approval it was aware that not all patients who took OxyContin were achieving twelve-hour relief.
Although the Goldman Four never tried to call those customers, it emerged during litigation that other bankers at Goldman had done precisely that — about two years earlier, when Goldman itself considered investing in L.& H. in a plan known internally as Project Sermon.
It has much more potential to be diverting than the apples-and-oranges regatta that emerged from litigation in San Diego at the 1988 Cup, when Dennis Conner rode a catamaran to soporific easy victory over a large monohull owned by the New Zealand merchant banker Michael Fay. "It could be that this is not at all interesting, like 1998," Ehman said.
However, new forms of liability have emerged, through litigation under general human rights codes or specific regulations of the Americans with Disabilities Act.
Looking elsewhere for financial support, Donziger found it in the emerging field of "litigation finance".
Wyeth (48, WYE) is emerging from the litigation cloud of diet drug Fen-Phen, a cause of heart problems.
Even the banking industry is facing the onslaught of the patent trolls with litigation emerging around online and mobile banking applications that allow for check imaging and secure transaction processes through smartphones.
Professor Porter said litigation was emerging along two fronts: homeowners are contesting foreclosures, and investors are charging that shoddy loan originations or servicing have increased their losses.
New enterprise search platform features are emerging to integrate with litigation support software to help corporations get their arms around their data.
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