For the second consecutive year, class action spending is up, and the rise in spending is expected to continue in 2017. The potential exposure for companies currently managing class actions has increased. Across industries and practice areas, class actions continue to present legal departments with sizable risk.
The sixth annual Carlton Fields Class Action Survey is based on detailed interviews with general counsel or senior legal officers at 373 companies of all sizes and business types. They shared thoughts and best practices on class action exposure and management. We trust that their valuable insights will, in turn, help your company and its legal department manage these prevalent, costly lawsuits effectively and efficiently.
Methodology and Approach
The 2017 Carlton Fields Class Action Survey results were compiled from 387 in-depth interviews with general counsel, chief legal officers, and direct reports to general counsel of 373 companies.* Consistent with the approach used in past years, to control for bias and assure objectivity, Carlton Fields retains an independent consulting firm to select the companies and conduct the interviews. To obtain additional data on bet-the-company class actions, that firm augmented its work with supplemental research. The consulting firm provides only aggregate data to Carlton Fields. All individual responses and company names are kept confidential and excluded from the survey results.
Survey participants’ companies had an average annual revenue of $13.8 billion, and median annual revenue of $4.9 billion. The surveyed companies operate in more than 25 industries, including banking and financial services, consumer goods, energy, high tech, insurance, manufacturing, pharmaceuticals, professional services, and retail.
* In addition, to present the survey results in context, pages four to six of the PDF report contain, with permission, information published by BTI Consulting Group.
About Carlton Fields
Carlton Fields Jorden Burt, P.A. has litigated and counseled clients in hundreds of class actions for more than 30 years in federal and state courts across the nation, and in arbitrations. These cases present unique challenges due to their different rules, enhanced scope, and higher stakes. The firm understands the potential impacts, costs, and risks associated with class actions, and is a leader in developing legal approaches and strategies for handling class action litigation.
If you would like to learn about the survey and how these results may impact you, or to discuss the Carlton Fields class action practice, please contact:
For printed copies of the 2017 Class Action Survey, questions and comments, or press and media inquiries, please contact us.
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