After peaking in 2004, the number of total federal products liability lawsuits filed in the U.S. declined by 14% last year. It appears there will be a decline of an additional 16% this year. The data, compiled with information gathered from the LexisNexis Market Intelligence database, was released by LexisNexis U.S. The data shows a gradual rise in federal lawsuits filed under NOS 365 (Nature of Suit 365), which is the designation for personal injury-products liability claims, began in 2001, when just over 5,000 NOS 365 filings were made. That number grew to more than 13,000 cases filed in 2002, rose to 17,000 in 2003 and then rose to nearly 28,000 lawsuits in 2004. A slight decline took place in 2005, when the number of products liability filings declined to less than 24,000. The year-to-date lawsuits filed in 2006 are on pace for less than 20,000 product liability cases to be filed this year. You can read the entire LexisNexis report by going to www.lexisnexis.com/marketintelligence/productliterature.asp.
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