U.S. Chamber Research Shows Nuclear Verdicts Growing in Size and Frequency
Massive jury awards of $10 million or more continue to increase in size and frequency, according to a study by the U.S. Chamber of Commerce Institute for Legal Reform. Between 2013 and 2022, the median nuclear verdict was $21 million, with the median nuclear verdict in product liability cases peaking at $36 million in 2022, according to the study.
The study, Nuclear Verdicts: An Update on Trends, Causes, and Solutions, analyzes more than 1,200 verdicts between 2013 and 2022. It looks at the trends, drivers, and types of cases leading to nuclear verdicts.
Other findings include:
- Product liability cases ($25 million) and auto accidents ($21 million) have some of the highest median verdicts.
- Juries in state courts, rather than federal courts, produced most nuclear verdicts.
- California, Georgia, Florida, Illinois, New York, and Texas produced around 56 percent of the nuclear verdicts across the country.
- Third party litigation funding, lawsuit advertising, and plaintiffs’ lawyers’ courtroom tactics fuel the size and frequency of nuclear verdicts.
The study outlines a series of suggested reforms the group believes that could reduce nuclear verdicts: Requiring disclosure of third-party litigation funding; reining in misleading lawsuit ads; and prohibiting plaintiffs’ lawyer anchoring tactics.
- Car Owners Shocked by $200 Gas Bills Finally Embrace Used EVs
- Merck to Settle Bulk of Gardasil Suits for About $50 Million
- Why Toyota RAV4s Are Suddenly the Most Coveted Used Cars in America
- PE Founder Constantino Ran Firm in ‘Drunken Haze,’ Ex-COO Says in Lawsuit
- The Adjuster’s Year Ahead: What AI Will and Won’t Change About the Job
- ‘Big Tobacco’ Moment for Cannabis: What Insurers Need to Know About Murray v. Cresco
- JPMorgan Denies Ex-VP’s Viral Harassment Claims in Court Filing
- Insurance Attorneys Flip $1M Hail Claim into Nearly $2M Suit for Contractor Interference