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The litigation boom has been propelled by fundamental changes in the way debts are collected, particularly for credit cards.
The litigation boom is being driven, in part, by a stepped-up effort from government authorities to increase the oversight of Wall Street after they were criticized for not doing enough in the years before the financial crisis.
Deregulation and crisis have fueled an economic litigation boom, which has been largely hidden from view since most of the economists' activities as expert witnesses take place below the radar, to help negotiate undisclosed settlements (Mandel 1999).
Because Y2K is expected to create the biggest litigation boom in history more class action lawsuits and countersuits {hence, more billable hours} than even pollution and asbestos, both of which rang up in the range of $100 billion.
Similar(56)
The number of lawyers per thousand population nearly tripled between 1970 and 1998, largely in response to the widening role of governments and a boom in litigation.
Businesses often say this boom in litigation comes courtesy of money-hungry lawyers seek big-dollar settlements.
But the growth of dollar stores has come with a boom in litigation from employees on the lower rungs of the economic ladder.
Contrary to popular beliefs, this is not a problem driven mainly by the aging of the baby boom generation, or the high cost of prescription drugs, or medical malpractice litigation that spawns defensive medicine.
For Napster, the 14 months of litigation means it missed a golden opportunity to raise more capital or even go public during the now-bust Internet boom.
"Boom, boom, boom, boom".
No litigation".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com