Law departments must submit budgets, so there is passing interest in budget-busting litigation. I will report them periodically. For example, MasterCard is being sued by rival card companies on antitrust grounds, and expects to incur huge legal bills. It planned to go public and raise more than $2.5 billion, with one of the reasons, according to Fortune, Vol. 153, May 29, 2006 at 18 and its offering filing, “to raise money to cover its pending legal costs.” Those legal fees must be priceless!
Health-South has paid $77 million in legal fees over the three-year period 2003-2006, according to Corporate Counsel, Vol. 13, June 2006 at 21. Such enormous fees are not healthy for the bottom line!