Staying Afloat During a Financial Tsunami
Issues and challenges of document review to navigate the waters and control costs in the midst of an e-Discovery storm
Alan Greenspan said recently in testimony before the House Oversight Committee, “We are in the midst of a once-in-a-century credit tsunami.” In the context of this nationwide economic upheaval, and at a time when companies are especially vulnerable to any variable that affects earnings and market perceptions of stability, civil discovery practice has been undergoing a dynamic evolution that presents real challenges to businesses and their counsel in terms of costs and outcomes of litigation.
In an article appearing in Metropolitan Corporate Counsel, co-authored by Diane Barrasso, a principal in the Forensic & Dispute Services practice at Deloitte Financial Advisory Services LLP, the evolution in discovery, due primarily to the substantial growth of electronically stored information (ESI) retained by companies in the normal course of business, is discussed. In addition to the high cost of complying with litigation discovery requests, there have been a growing number of cases where courts have entertained and granted motions for sanctions with respect to violations of rules governing discovery of ESI, the imposition of which have often resulted in extremely adverse outcomes to companies.
Read more about the current electronic discovery environment as well as the issues and challenges associated with a well-executed document review in the attached article, posted with permission from the Metropolitan Corporate Counsel.
Library: Deloitte Discovery