Product Liability Attys' Wallets Take A Hit From Alt Fees

Law360, New York (August 31, 2012, 5:42 PM EDT) -- Companies' spending on product liability litigation has plunged over the past two years and appears poised to keep falling, according to a new survey of corporate counsel, the result of alternative fee arrangements with firms and a growing propensity to steer clear of the courtroom.

The product liability litigation market sank from $2.5 billion in 2010 to $2.07 billion in 2012, a 17.2 percent decline, according to the BTI Litigation Outlook 2013 report from The BTI Consulting Group (Wellesley, Mass.).

The market is expected to shrink...
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