MENLO PARK, Calif., July 21, 2016 /PRNewswire/ -- Lex Machina, a LexisNexis company, today announced it is expanding its award-winning Legal Analytics® platform beyond intellectual property (IP) into securities law. The move is part of the company's plan to expand its litigation analytics platform to cover every federal practice area, including antitrust, commercial, product liability, employment, commercial bankruptcy and more. Starting today, securities litigators will be able to use Legal Analytics to make data-driven decisions based on detailed information from nearly 15,000 federal securities litigation cases and over 1 million docket entries filed since 2009.
Use of Lex Machina's Legal Analytics has already become a mainstay in IP law. Using machine learning and natural language processing, the platform reveals insights and actionable intelligence on opposing lawyers, law firms, parties, judges, venues and more. Half of the AmLaw100 law firms use Lex Machina's Legal Analytics to craft successful IP strategies, win cases and land clients.
"Legal Analytics has profoundly transformed both the business and practice of IP law, and is a 'must have' technology for America's largest corporations and top IP law firms. We anticipate that our platform will have a similar impact on securities litigation and every other federal practice area we cover in the future," said Josh Becker, CEO of Lex Machina. "Legal Analytics not only gives attorneys a distinct, competitive advantage for litigation, but also helps corporate general counsels and other executives make better decisions that can materially impact their business."
Prior to expanding into securities litigation, Lex Machina interviewed nearly 20 of America's top securities litigators to better understand their particular needs, and incorporated the feedback directly into the new module. Some of the new features include:
Securities findings analytics: Adds new tags for Securities Act and Exchange Act violations, statute of limitations defense, plaintiff knowledge defense, cautionary language/safe harbor defense and more
Case resolution analytics: Specifically created for multi-district litigation, such as class-action lawsuits tried in district courts across multiple U.S. states
Damages analytics: Categorizes the amounts awarded for SEC penalties, disgorgement, approved class-action settlements and other securities damages
New timing analytics: Reveals average times for a case to reach class certification, summary judgment, dismissal and more—useful for budgeting, resource allocation and legal strategy
Jean O'Grady, publisher of the popular legal blog, Dewey B Strategic, said, "Lex Machina has taken the most mundane of legal data sets—docket entries—and spun it into a goldmine of legal insights. Lex Machina is not a hard product to use, but it offers a dizzying array of options which a lawyer with minimal training can master."
While the Lex Machina platform enables users to quickly generate insights customized to their particular circumstances, it also tracks topline litigation trends. A blog post accompanying the launch provides a number of statistics on securities cases that terminated last year, including:
The top defendants of securities litigation are Citigroup Global Markets (43 cases), Goldman Sachs (36 cases) and UBS Securities (35 cases)
Latham & Watkins (48 cases), followed by Simpson Thatcher & Bartlett (41 cases) and Dechert (39 cases) are the top firms representing defendants
Top plaintiff-side firms are Pomerantz (107 cases), Robbins Geller Rudman & Dowd (99 cases), Glancy Prongay & Murray (46 cases) and The Rosen Law Firm (46 cases)
Lex Machina's award-winning Legal Analytics® platform is a new category of legal technology that fundamentally changes how companies and law firms compete in the business and practice of law. Delivered as Software-as a-Service, Lex Machina provides strategic insights on judges, lawyers, parties, and more, mined from millions of pages of legal information. This allows law firms and companies to predict the behaviors and outcomes that different legal strategies will produce, enabling them to win cases and close business.
Lex Machina was named one of the "Best New Legal Services" by readers of The Recorder in 2014 and 2015, and received the "Best New Product of the Year" award in 2015 from the American Association of Law Libraries.
Based in Silicon Valley, Lex Machina is part of LexisNexis, a leading information provider and a pioneer in delivering trusted legal content and insights through innovative research and productivity solutions, supporting the needs of legal professionals at every step of their workflow. By harnessing the power of Big Data, LexisNexis provides legal professionals with essential information and insights derived from an unmatched collection of legal and news content—fueling productivity, confidence, and better outcomes.