Class-Action Defense Costs Jump a Whopping 12 Percent
This post has been viewed 2,715 times.
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.
Read original articleTags: Carlton Fields, Chris Coutroulis, class action lawsuits
