Tyco-Case Lawyers Seek Record $460M Fee

Gusher of litigation expected to dwarf Valdez suits

(NEWSER) - Even if it manages to plug the Gulf leak tomorrow, BP is facing a gusher of lawsuits likely to keep flowing for decades. Lawyers are scrambling to file ever-bigger lawsuits on behalf of people affected by the Deepwater Horizon explosion and its aftermath, including rig workers, shrimpers, and tourist businesses. Billboards seeking oil-affected clients have appeared on Louisiana highways and some lawyers are searching for clients as far away as the Florida Keys, where a drop of Gulf oil has yet to wash up. More»

More homeowners cite damage, sickness, as feds finish inquiry

(NEWSER) - With the controversy over Chinese drywall about to come to a head, the New York Times checks in on the issue and finds hundreds of lawsuits piling up around the country. The imported material, which became common as builders scrambled for supplies during the housing boom, is said to be contaminated with sulfur compounds that cause headaches and breathing difficulties, corrode metal—destroying kitchen appliances, TVs and plumbing—and give off a noxious smell. More»

(NEWSER) - The recession has crippled funding for legal aid even as it has bumped up the number of people requesting representation, McClatchy reports. Though the federal government ramped up spending this year—and plans an even bigger increase for 2010—state funding and private donations have cratered, forcing legal aid to turn away about half of the 2 million valid cases it receives this year. More»

Men got higher retention bonuses, they allege

(NEWSER) - A former Merrill Lynch broker is leading a class-action lawsuit against Bank of America for offering female workers lower retention bonuses, Reuters reports. The suit alleges that Merrill had a longtime practice of steering wealthier clients to its male brokers. Because of that, when BofA acquired the firm and offered retention bonuses based on production, it put women at a disadvantage. More»

61% of plaintiffs who battle it out end up losing money

(NEWSER) - Taking a civil lawsuit to court tends to be a costly mistake, the New York Times reports. Researchers have found that plaintiffs who reject out-of-court settlements end up with less money 61% of the time, losing an average $43,000. Defendants turned out to be right more than plainfiffs about going ahead with a trial—but the average cost of a bad call was a whopping $1.1 million. More»