US companies to spend less on defending class actions in 2012
A new survey shows that US companies plan to spend less money on defending themselves against class action claims, despite a predicted increase in the number of suits to be brought.
The savings will be made - according to the study by Florida law firm Carlton Fields - in the budgets for outside counsel, which currently account for about 90% of the money law departments spend on class actions.
Respondents reported plans to cut spending by about 17%, reducing spending per class action from and average of $776,500 to an average of $645,800.
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