Tort Costs Make US Cos. Less Competitive: Panel

Law360, New York (May 24, 2011, 7:43 PM EDT) -- The U.S.' high litigation costs, driven by fraud and abuse, hampers the development of American businesses and prevents some foreign companies from investing here, panelists told members of a U.S. House of Representatives subcommittee Tuesday.

At a hearing on litigation's effect on America's global competitiveness, members of the House Judiciary subcommittee on the Constitution were told that the U.S.' litigation costs were drastically higher than in other developed countries and disproportionately fell on small businesses.

“The key problem is we've made lawsuits an attractive investment,” said...
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