According to a recent article on Valleyway, California law firm Kershaw, Cutter & Ratinoff (KCR) is investing into the signal loss problems many consumers have reported while holding the phone in a certain position.
KCR is currently investigating potential problems with the release of iPhone 4.
If you recently purchased the new iPhone and have experienced poor reception quality, dropped calls and weak signals, we would like to hear from you.
I don't think it will come down to this. If there is a hardware problem with the iPhone, I think Apple will take care of it. Apple's brand is built off having quality products and I'm not sure would not want to risk it now.
Source: Valleywag, Macrumors