Frequently a sore spot for the corporate legal department, class action lawsuits can quickly mire even the most storied teams in mounting costs and lengthy battles. A recent survey confirms that class action lawsuit costs have grown in the past year, and that many expect the trend to continue in 2014.
The 2014 Carlton Fields Jorden Burt Class Action Survey compiled interviews and information from 346 general counsel at 326 different companies. According to the results of those interviews, class action spending increased approximately 12 percent from 2012 to 2013. In addition 25 percent of those interviewed anticipated that those costs would continue to increase in 2014.