Defense firms have long been warning of an impending wave of mass arbitration. However, the anticipated surge doesn’t seem to have materialized just yet. Instead, the prospect of mass arbitration remains, as Steven Weisburd, Los Angeles managing shareholder at Carlton Fields, describes it, a “theoretical possibility”.
This information comes in the wake of the recent 2023 Carlton Fields Class Action Survey results, which included, for the first time, a query on whether corporations had encountered mass arbitration within the last year. The original article delves further into the nuances of these findings.
Notwithstanding the constant warnings, it is worth noting that plaintiff firms are treading with caution. While defense attorneys uphold that there’s been an uptick in mass arbitration, a large number of plaintiff firms remain tentative, navigating the realm of mass arbitration with measured steps. This measured approach likely contributes to why the anticipated surge in cases is yet to occur.
As the world continues to monitor the development of this trend, one thing appears clear: the discourse on mass arbitration is far from over. As we move forward, it will be interesting to see how these dynamics evolve, both on the defense and plaintiff side of the equation.