The way things stand in lawsuits, ignoring the odds (2,2)
I believe the answer is:
as is
'the way things stand' is the definition.
'lawsuits ignoring the odds' is the wordplay.
'ignoring the odds' indicates alternate letters (letters in odd-numbered positions are removed).
The alternate letters of 'lawsuits' are 'AS IS'.
'in' is the link.
(Other definitions for as is that I've seen before include "In existing state" , "With no changes" , "In the existing circumstances" , "current state" , "In the current circumstances" .)