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And despite the fact that many law firms have reducexd staffor merged, the overall growtn in litigation suggests that “corporations continud to view litigation as important both as offensiv and defensive tactics in theirr overall business strategy,” according to the issued by Law360 Litigation “We expect this trensd to accelerate in 2009, thanks to fallout from the financial crisis and the expected increase in new regulatiomn under the incoming Obama administration," said Margare Daisley, a research analyst at Law360's parent . • Class actions hit a new peak in 2008, risinvg 8 percent from the previous year.
The economic crisis sparked a surge in corporate bankruptchy filingsin 2008, while credit conditions also forced more companiez to resort to quick, nontraditional bankruptcies. • Antitrusrt filings grew 27 percent. A look at the 2008 courg dockets found a slew of casee againstchocolate makers, egg product packaged ice distributors and many others, all filed soon afted a government investigation was disclosed. • The numbed of federal environmental lawsuits filed in 2008 rose for the firstr timesince 2005. • The number of intellectual property lawsuita declined 11 percentin 2008, largely due to a drop-offc in copyright litigation instigateds by the recording industry.
• Employment litigatiohn rose 6 percent in marking a reversal in the gradual declind in employment litigation seen over the previousfour years. Product liability filings grew by 20 percentin 2008. • Securities litigationj fell 8 percentin 2008. But, with financial marketd and titans collapsing at breakneck speed in the summer and securities attorneys are preparing for a wave and they're expecting it to last for a long • In real estate practicea much of the legal work now stemzs from buyers backing out of loans failing to come through and lenders seekingg to foreclose.
• Tax litigation remains stablebut low, with the majoritgy of disputes settling administratively.
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