Top 10 Corporations that have been sued the most
You might be surprised with the 10 most sued companies in the US Federal Court. I thought BP (British Petroleum) would top the list with that horrible oil spill in the Gulf of Mexico. But BP didn’t even make it on the list! It’s because most claims were made in state courts on the Gulf, where it’s considered a domestic corporation.
The 10 Companies Sued Most In Federal Court: (According to Institutional Risk Analystics)
- General Electric- 9,359 lawsuits in 2010
- Good Year- 4,989 lawsuits in 2010
- Bank of America- 3,285 lawsuits in 2010
- Wells Fargo- 3,092 lawsuits in 2010
- Toyota Motor- 1,873 lawsuits in 2010
- JPMorgan- 1,150 lawsuits in 2010
- GMAC- 768 lawsuits in 2010
- Ford Motor- 470 lawsuits in 2010
- Citigroup- 447 lawsuits in 2010
- General Motors- 299 lawsuits in 2010
What’s instigating these lawsuits? Well, for companies like Ford, Goodyear, General Motors and General Electric nearly 100% of the cases are battling with asbestos claims. And if they go to trial the payoffs can be more than $1 million in settlement costs! As for the banks their lawsuits are dealing with the mortgage crisis.