The Most Sued Companies in America

The Institutional Risk Analyst, a financial sector research firm run by veteran analyst Christopher Whalen, has taken a deep dive into the tort world and came up with a list of the most sued companies in America. Banks with sizable mortgage exposure, such as Wells Fargo WFC, Ally Financial/GMAC and Bank of America BAC, have the highest number of lawsuits. Citigroup C, JPMorgan JPM, Goldman Sachs GS and Morgan Stanley MS all have much lower lawsuit totals. US Bancorp USB, has large exposure to securitizations, but has “managed to keep its litigation profile the lowest of all large banks,” says IRA. Scary data point here for the banks: The IRA notes that mortgage lawsuits “are not asbestos cases kiddies, which typically get settled for less than $10,000 in pre-trial settlements,” but can “rise to more than $1 million in settlement costs if they go to trial.” Continue reading the article.