In the News Today - July 11, 2018

July 11, 2018

Bestwall Lawyers Push Back on Asbestos Plaintiffs’ Lawyers Attempt to Hire Four New Firms: Lawyers for Bestwall have asked a judge to reject an attempt by plaintiffs’ lawyers to hire four new firms to work for the committee overseeing the bankruptcy trust the company established to settle asbestos-related lawsuits. Bestwall lawyers say the new firms will “provide the exact same services.” (Wall Street Journal)

New Report Finds Cost of Securities Litigation Has Skyrocketed in Recent Years: A report from Chubb, an insurance company, found that the average cost of settled merger-objection securities lawsuits grew 63 percent between 2012 and 2016. The report also found that only 39 percent of the total claims payments went to shareholders, and the remaining 61 percent went to plaintiffs’ and defense lawyers. (Chubb)