In the News Today - September 19, 2016

September 19, 2016
  • ILR Lawsuit Climate Survey Cited in Article about AR Legal Reform Initiative: An article about an Arkansas legal reform ballot initiative cites the state’s 41st ranking in ILR’s 2015 Lawsuit Climate Survey. If approved by voters, the initiative “would amend the state constitution to require the Legislature to set a cap on non-economic damages, such as damages for pain and suffering, at no less than $250,000 in a civil suit against a health-care provider. The proposed amendment also would limit attorneys’ contingency fees in medical-injury suits to one-third of any award or settlement, after litigation costs are deducted.” (Times Record

  • Deutsche Bank has ‘No Intent’ to Pay DoJ’s Opening Settlement Bid: Deutsche Bank has “no intent” to pay the U.S. Justice Department’s opening settlement proposal of $14 billion over allegations of pre-financial crisis sales of residential mortgage-backed securities. The DoJ’s proposal would exceed the bank’s litigation provisions and experts say if there is an eventual settlement, it would be for a “significantly lower” amount. (Wall Street Journal

  • Feds Decline to Intervene in $90B Qui Tam Suit: The New York law firm of Kasowitz, Benson, Torres & Friedman has filed a $90 billion qui tam suit against four large chemical companies over allegations of failing to inform the U.S. EPA of alleged injuries caused by a common chemical. The firm could stand to garner as much as $27 billion, “the biggest law firm payday of all time,” if the suit wins. The federal government, however, has declined to intervene. The author cites an ILR report in writing that plaintiffs prevail in only 6 percent of qui tam cases in which the federal government declines to intervene. (Litigation Daily