As college classes wind down for the year, there’s another sort of class that’s really taking off, and that’s class-action lawsuits. According to Carlton Fields Jorden Burt’s 2014 class-action survey, companies reported a whopping 12 percent increase in their annual class-action spending from 2012 to 2013. In addition, almost 25 percent of corporations anticipate their spending will continue to rise in an attempt to defend and ward off litigants.
And they’re not fighting over a few cents. Chris Coutroulis of Carlton Fields reports a rise in the number of “high risk” and “bet-the-company” cases from 6 percent up to more than 11 percent. He says this “increases corporate counsel spending and makes winning, as opposed to the cost of defense, their number one priority.” Another area of risk is litigation related to data privacy and security. Twenty-four percent of companies told Carlton Fields they felt this area would be the greatest challenge for them in the future.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
