Over the next decade, legal scholars expect an increase in media covering high profile claims involving civil, commercial and financial fraud. A new study shows that more than 51% of cases involving corporate fraud and financial crimes are actively covered by media organizations. Research shows that high profile cases are being funded by sophisticated third party litigation funders, with 17% of companies reporting media scrutiny is to be expected during group legal action(s).
An LFJ Conversation with Michael Kelley, Partner, Parker Poe
Over the next decade, legal scholars expect an increase in media covering high profile claims involving civil, commercial and financial fraud. A new study shows that more than 51% of cases involving corporate fraud and financial crimes are actively covered by media organizations. Research shows that high profile cases are being funded by sophisticated third party litigation funders, with 17% of companies reporting media scrutiny is to be expected during group legal action(s).
FTI Consulting’s recent 2022 “Resilience Barometer” study includes perspectives from over 3,000 business leaders, including top G20 CEOs, CFOs, COOs, CIOs as well as leading General Counsels. Between 27%-30% of compliance and strategy leaders in business today are concerned about media attention related to a wide range of financial frauds, spanning everything from tax evasion to environmental degradation. And 22% of respondents are planning regulatory investigations over the next 12 months.
FTI Consulting notes that in 2021, 89% of those surveyed planned on receiving claims to legal proceedings that are backed by litigation funders. North America, Europe and Asia litigation investors make up the bulk of high profile cases that are covered by major media outlets.
