DURING 2010, litigation costs and risks encroached further into the normal operations of organizations, as the nation’s judges further defined how companies must preserve and protect electronic information when facing the threat of litigation.
In Pension Comm. of Univ. of Montreal Pension Plan v. Banc of America Sec., LLC, 2010 WL 93124 (S.D.N.Y. Jan. 11, 2010, modified Jan. 15, 2010 and May 15, 2010) (685 F. Supp. 2d 456), Judge Shira Scheindlin, of the U.S. District Court for the Southern District of New York, established guidelines for preserving evidence via a “legal hold” (a.k.a. litigation hold). When confronted by anticipated litigation, companies must direct their employees to preserve all records, paper, and electronic data relevant to the dispute, and to create a “mechanism for collecting the preserved records so that they can be searched by someone other than the employee.”
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