If you want to position yourself optimally for success with mass torts, you need to diversify.
How do we do that? One of the best ways to diversify is to categorize potential cases by the stage of the litigation. The three stages are:
Stage I – No centralized docket; FDA warning communications likely but not a formal recall; some research has shown connections between the product in question and its alleged defects; cost per client acquisition low ($800-$3,000)
Stage II – Centralized docket formed; possible to compare to previous litigation; FDA black labels or recalls likely; bellwether trials starting; cost per client acquisition moderate ($1,500-$4,500)
Stage III – mature litigation with impending settlement, positive verdicts in bellwether trials; science appears to be very clear; FDA communications assert a problem with product in question; cost per client acquisition high ($2,000-$6,000+)
As the litigation matures, the FDA puts out communications detailing the problems with the product. Research publications then confirm the alleged problems, the investment risk decreases, and the cost of retaining clients skyrockets as the competition and market gets tight.
While investing into mature cases might yield faster and more reliable results, early cases cost less and might yield a significantly higher return. That is why we recommend diversifying, and that is how we have built our practice.
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