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Clearwell Intelligence Platform Chosen by Bear Stearns to Streamline Legal e-Discovery

Clearwell Dramatically Reduces Processing and Review Costs and

SANTA CLARA, Calif.—December 6, 2007—Clearwell Systems, a leader in Intelligent E-Discovery, today announced Bear Stearns, a leading financial services firm, has deployed the Clearwell Intelligence Platform® to streamline and automate legal e-discovery. Clearwell’s market-leading processing, analysis, cull-down and review capabilities enable users to dramatically reduce processing and review costs, and accelerate early case analysis. 

Industry research indicates that 80-90 percent of the electronic data collected for a case is non-relevant to the case. Yet, companies continue to send the entire dataset to service providers for processing at an average cost of $1,800 per gigabyte. The same dataset is also sent to outside counsel for review and analysis at an average cost of $250 per hour. The process takes weeks to complete, significantly delaying the ability to ascertain case facts and develop case strategy. In an effort to significantly reduce these costs and speed up early case assessment, industry leaders like Bear Stearns are choosing Clearwell as an integral part of their legal e-discovery process.

“We chose Clearwell because it offered an effective e-discovery solution,” said Russ Cassar, senior managing director at Bear Stearns. “The Clearwell Intelligence Platform was up and running quickly and its intuitive user interface required very little training.”  

The Clearwell Intelligence Platform enables users to quickly cull-down the data to the relevant result set by eliminating duplicates, weeding out unrelated messages, removing false positives and identifying privileged data. It significantly reduces the amount of data that needs to be processed by e-discovery service providers and reviewed by outside counsel, saving considerable amounts of time and money on each case. Furthermore, Clearwell’s ability to analyze gigabytes of data in hours versus weeks enables the company to dramatically accelerate early case assessments.

“The e-discovery expense and workload will continue to increase as companies comply with the amendments to the Federal Rules of Civil Procedure. To cope with this, many large companies like Bear Stearns are choosing Clearwell to prevent e-discovery costs from spiraling out of control,” said Aaref Hilaly, president and CEO of Clearwell Systems. “By streamlining and automating the processing, analysis, cull-down and review process, Clearwell provides an innovative solution that is saving companies tens of millions of dollars per year. At Bear Stearns, Clearwell delivered a significant return on investment within days of installing the product.”

About Clearwell Systems

Clearwell Systems, a leader in Intelligent E-Discovery, is transforming the way enterprises conduct e-discovery in response to litigation, regulatory inquiries, and corporate investigations. By automating the processing, analysis and review of electronically stored information, Clearwell enables enterprises to reduce the cost, duration, and complexity of e-discovery. Leading corporations, government agencies, and legal service providers have reduced e-discovery costs by as much as 80 percent within days of their deployments. For more information, visit www.clearwellsystems.com, or learn about E-Discovery 2.0 at clearwellsystems.blogspot.com.

@Symantec