On Monday, Xerox, the maker of printers and copiers, announced a charge of $183 million, or 25 cents a share, for litigation involving its pension plan.
Those figures do not include the state's still-sizable share of the 1998 settlement of litigation against tobacco companies.
Moreover, if the writer can band together with other tenants, they may be able to share the costs, and risks, of litigation.
IMF, an Australian firm that finances litigation in return for a share of the proceeds if the litigation succeeds, has announced it will finance a similar action in the Netherlands.
Solace, presumably, to those still at their desk as colleagues are turned out on the street.Still, panicky investors have pushed the shares of every major bank to their lowest level in years as they have watched falling stockmarkets, the thinnest of pickings for both mergers and acquisitions and the underwriting of new shares, and now the growing mass of litigation surrounding investment banks.
Citigroup said in December that it would set aside $1.3 billion for regulatory settlements and private litigation: its share of the regulatory pact accounted for only $400m of this.
D10 TRADE CENTER SUIT -- The real estate developer who holds the lease on the World Trade Center filed a lawsuit demanding that an insurer promptly pay its share of the coverage, even as litigation continues to determine how much the insurers are liable for.
Profit was $822.7 million, or 62 cents a share, after a loss of $3.82 billion, or $2.91 a share, a year earlier, when it had expenses related to settlement of litigation over recalled fen-phen diet pills.
As a whole, the industry could lose market share to non-accountants.The act, with its threat of litigation, should also impel accounting firms to audit more thoroughly.
There's a new asset class for investors — and it's actually in litigation, where investors help cover the cost of litigation in exchange for a share of the outcome.
