Melanie Dubis wrote an article in Bloomberg Law on how businesses can prepare for the "tsunami of litigation" that is likely to result from the coronavirus pandemic.
"The first waves are beginning to crash in the financial services, life sciences, and real estate industries," Melanie wrote. "Financial institutions, brokers, and investment advisers are starting to see claims that bring back memories of the Great Recession, when disputes surged through FINRA, the United States' largest forum for resolving investment disputes."
"Additionally, biotech companies, real estate developers, and other businesses have found themselves targets of securities class actions, including over how they have—or haven’t—disclosed the impacts of COVID-19 on their business," she wrote.
"Just as a tsunami is not a single wave but a series of waves, companies are likely to face evolving litigation risks as the pandemic unfolds," she continued. "There are steps they can take now to prepare, including reconsidering the use of arbitration and mediation. Many businesses are finding those types of alternative dispute resolution more attractive, in part to avoid growing backlogs in the court system."
Subscribers can read the full article here. Bloomberg Law is one of the leading national resources for in-house counsel and others in the legal industry.