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Survey: Early risk assessment cuts costs of class action suits

The number of class action lawsuits is increasing for businesses, but the cost per suit is decreasing. The 2013 Carlton Fields Class Action survey of more than 360 general counsel and chief legal officers found that determining potential financial exposure through case assessment and modeling reduces costs. Businesses using this strategy spend 38 percent less per class action and 42 percent less on outside counsel than companies that fail to do risk assessment. Respondents in the law firm’s…

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