The 2018 Carlton Fields Class Action Survey, which was released in April, has been featured in leading publications such as The Wall Street Journal, Corporate Counsel, American Lawyer’s Litigation Daily, Employment Law Daily, Daily Business Review, Business Observer, the Tampa Bay Business Journal, and the Orlando Business Journal.
This year’s survey showed an increase in spending on class actions, which has reached its highest level since 2010. Companies across multiple industries spent $2.24 billion defending class action lawsuits in 2017, with spending projected to reach a high of $2.39 billion in 2018.
"The more economic activity, the more consumer spending, the more transactions occur, the more problems or perceived problems also arise," stated Gary Sasso, president and CEO of Carlton Fields.
“We see evidence of steadily increasing volume and complexity,” said Julianna McCabe, director of Carlton Fields’ Class Action Survey and chair of the firm’s National Class Actions practice group. “Defending class action litigation is indeed an ongoing challenge for most American companies, testing corporate resolve and straining corporate resources.”
The Class Action Survey is a result of 411 interviews with general counsel, chief legal officers, and direct reports to general counsel at 385 companies in multiple industries.
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