Financial Crisis Leads to Record Number of Litigations

Toronto, Canada, October 18, 2008 --(PR.com)-- Current financial situation has led many companies into worst case scenarios as increasing number of organizations are now faced with a choice to either shut shop or borrow funds to stay afloat. What many experts are calling the worst economic situation since the great depression of the 1930s has caused many casualties across every sector and industry.

With so many companies going down under, several investigations have been launched to check the day to day operations of these companies. Even relations between companies who had entered into mergers & acquisition pacts have gone sour. As a result, there is a record number of litigations not just in the financial sector but in other sectors like natural gas, oil, technology and so on. Of course one thing that is common is that these litigations have their roots in the financial crisis in Wall Street.

Leading legal networking sites like lawyerahead.com has seen an increase in user activity since the current turmoil just began. Legal teams have been working overtime and trying to attract outside help as well to come up with strategies and tactics to address the issues facing their clients. Lawyers who are registered with legal networking sites say that since the past month or so, the numbers of corporate clients signing up on these networking sites are constantly going up. In fact according to some reports, the share of the user base in legal networking sites between general users and corporate users have almost become equal.

With no rest in sight in the financial instability of economies around the world, legal networking sites will only see more and more activity from corporate clients, lawyers and general users who have been caught up in a legal row due to the unprecedented mess made by the Wall Street.

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