There are many current business lawsuits out there. While most of the lawsuits are related to personal injury lawsuits, there are cases out there that are done to play politics and make a buck at other people’s expense. Many of the victims of these lawsuits are left with huge medical bills and loss of work time. A few of the current business lawsuits that have hit the news are:
One of the more recent lawsuits involves former Microsoft CEO, Steve Ballmer.
Ballmer was accused of knowing about the harmful effects of the game-playing software, but did not let anyone else know. This caused an association between him and an underling in the scandal, which ultimately brought harm to his company. Ballmer is now suing someone for $2.35 million due to this breach of fiduciary.
While these lawsuits are being litigated, there are new laws being passed that will protect company officers and employees from such lawsuits.
For example, the Sarbanes-Oxley Act was passed in 2021. This act bans corporate directors and officers from aiding and colluding with an opposing company to create a sham lawsuit and not pay their attorneys’ and fees, or even worse, keep quiet about the current situation.
Unfortunately, it seems that the world of current business lawsuits is only growing.
In fact, it is getting so bad that companies are filing frivolous lawsuits just so that they can put someone out of business. As a result, we have seen many examples of politicians making statements about bankruptcies and then having these businesses put into bankruptcy, all based on false information. The best way to avoid these lawsuits is to keep informed of your situation and not to take any risks. If you do find yourself in a current business lawsuit, it is always best to seek representation from an attorney who has experience in this area of the law.
Many people don’t realize that these lawsuits actually hurt the economy more than they help it.
When people lose their jobs, they need to apply for unemployment. This means having to give up a lot of personal possessions, as well as assets and investments. Banks need to be paid, because the lawsuits could lead to a complete shut down of the banking system. All of this means less money for consumers, businesses, and creditors overall.
Of course, not all current business lawsuits are meritless.
Often times, a case brought about by a disgruntled employee, disgruntled business owners, or people in general are found to have a legitimate claim. By bringing such cases to the attention of a qualified lawyer, you may be able to receive compensation that will make life better for everyone involved.