Booming Cases

Hi ZipLawyer! Here's all the news you need to know from this past week and how they impact law firms.

Coming up:

• ⚖️ Legal: Record law cases, GSK's $2B lawsuit settlement
• 💸 Business: Pension funds want UK boost, Fed unsure on rate cut speed, Shein doubles profits
• 🤖 Technology: AI servers move to Mexico, new Tech regulator, Meta's new AI filmmaker
• 🔍 Competition: China hits EU with Brandy tariffs, will Google be broken up?
• 🔋 Energy: Lithium bargain deals, time to build dams, UK chippies' liquid gold

Legal

• London’s Legal Boom: London’s top commercial courts are tackling some of the highest-value cases in English legal history, fueling a legal fees bonanza for firms like Clyde & Co and Herbert Smith Freehills. Cases, including a mass lawsuit against BHP and a “mega trial” involving insurers and stranded aircraft, highlight the city’s global appeal. However, the surge in litigation is stretching an already creaking justice system, with calls for urgent investment to maintain London’s status as a leading legal hub.
• Big settlement: GSK has cleared a major hurdle by agreeing to settle the bulk of its Zantac lawsuits in the U.S. for up to $2.2 billion, a figure much lower than feared. This settlement, which addresses about 80,000 claims alleging Zantac caused cancer, helped GSK's share price surge by as much as 6.6%. Investors had been bracing for much larger liabilities, originally predicting costs between $10.5 billion and $45 billion.

What does this mean for Law Firms?