Nuclear Verdicts reach record $14.5B in 2023

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DEFENSE STRATEGY

Nuclear verdicts are driving multi-million dollar jury awards

Corporate defendants across nearly 50 industries faced a staggering $14.5 billion in “nuclear verdicts,” verdicts surpassing $10 million, in 2023, according to an analysis by Marathon Strategies.

The median nuclear verdict rose to $44 million in 2023, a significant increase from $21 million in 2020, Marathon found. Last year also saw a 15-year high with 89 lawsuits resulting in verdicts over $10 million, while 27 were “thermonuclear,” or more than $100 million. This is the largest number of such cases Marathon has identified in a single year since 2009.

Several factors are contributing to the growth of nuclear verdicts. These include corporate mistrust, social pessimism, erosion of tort reform, and public desensitization to large numbers, according to the report. Additionally, shifts in jury pool demographics, particularly the influx of Millennial and Gen Z jurors who are more pro-plaintiff and less trusting of companies, have played a significant role, per the report.

Specific trial tactics may contribute to the size of verdicts emerging from juries.

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One key to an early resolution is the assessment and evaluation of the claim by the defense. In a case involving healthcare, the basis for this is a review of the medical records. To combat the Reptile Theory, the defense introduces alternative causation concepts. A valuable tool for understanding the entire timeline of a patient’s clinical course is a Medical Chronology. The defense can focus the chronology on specific issues that may have contributed to the plaintiff’s alleged injury. This topical chronology extracts the most useful data from the full medical chronology, putting the most relevant information to the defense strategy in a concise document.

INSPIRATION

Vision, challenges, and lessons learned: Excelas celebrates its 19th Anniversary

According to recent small business statistics, one in five small businesses fail within the first year, and 50% fail by year five. Another source reveals only 30% of businesses make it to year 10. All the more reason to celebrate Excelas’ nineteen years of success!

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Please join us in celebrating Excelas, LLC’s 19th Anniversary!