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News
March 7, 2017

In the News Today – March 7, 2017

Class Action Defense Spending Increases for Second Consecutive Year: The Carlton Fields Class Action Survey found that companies across multiple industries spent $2.17 billion defending class action lawsuits in 2016, accounting for 11.2 percent of all litigation spending in the United States. (Carlton Fields)

Proposed Bill Raises “Substantial and Troubling Changes” to Unclaimed Property Legislation: The Illinois House of Representatives is considering a bill introduced by Rep. Michael Zalewski, the Uniform Unclaimed Property Act, which “adds language on rule making, abandoned property, taking custody of property, and reporter requirements” as relates to how Illinois deals with abandoned property. ILR is quoted as saying the proposed bill “would override established insurance law” and “violates the Contracts Clauses in both the U.S. and Illinois Constitutions.” (Illinois Business Daily

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