Law firms looking to diversify their client base and increase their opportunities for successful litigation often explore diverse legal avenues. One particularly promising path lies in mass torts, which are cases involving numerous plaintiffs against a single defendant. In this post, we examine three core benefits of mass torts, and offer insights into the key considerations for law firms eager for more lucrative opportunities.

1. Financial Advantages

Mass torts can bring substantial financial benefits. By consolidating a large number of claims into a single lawsuit, the potential settlement or verdict amounts increase, especially for claims involving significant and egregious damages. Timing and risk play a crucial role here, as the earlier a firm engages in mass tort litigation, the higher the risk but also the lower the initial cost. Conversely, entering later in the litigation timeline means lower risk but higher costs, as acquisition expenses increase with each stage. Understanding the relationship between timing, risk, and cost can help firms maximize their returns.

2. Greater Efficiency

Efficiency is another compelling advantage. Mass torts enable law firms to handle multiple cases simultaneously under a unified legal framework. This structure allows for sharing of resources, including staff expertise and technology, reducing the time and effort spent on individual cases. This grouping of similar cases against a common defendant empowers litigators to evaluate risks effectively while streamlining their case management processes. Personal injury firms utilizing a trusted marketing partner like Broughton Partners can continue to handle their standard caseload without the need to develop the expertise or hire the staff needed to enter the mass tort space.

3. Risk Reduction

For personal injury firms, participation in mass torts can help diversity revenue streams. Firms can choose to participate in multiple torts, depending on the firm’s risk profile and available capital, in order to spread their financial risk. This diversification offers a more stable income flow, reducing the potential financial impact of losing a single case and enhancing the firm’s overall financial stability.

Before pursuing mass tort cases, law firms should thoroughly evaluate the following factors to maximize their success:

  • Stages of Litigation: Mass tort litigation typically progresses through three stages: early/emerging, mid-stage, and late-stage. Early-stage cases have just started or are in the preliminary phase before a Multidistrict Litigation (MDL) is formed. Mid-stage litigation sees more solidified strategies, while late-stage cases are nearing settlement or are already in settlement discussions. Understanding these stages allows firms to choose their entry point based on risk tolerance and resource availability, reducing exposure to unpredictable outcomes.
  • Timing vs. Risk: Early involvement brings higher risks and lower acquisition costs, but returns could be substantial if the cases progress well. Mid- and late-stage torts present fewer unknowns but also come with increased costs.
  • Risk Profile and Capital Outlay: Firms should consider their comfort level with risk and their financial situation before diving into mass torts. While the potential gains are high, mass tort litigation can be capital-intensive and may require careful budgeting and strategic financial planning.

What Broughton Partners Can Do For You

With Broughton Partners, law firms gain access to an unparalleled network that allows them to participate in mass torts, no matter their available spend and all while adhering to compliance standards.

We can help your law firm gain more clients and build better connections between claimants, litigating firms, and referring firms. With various consumer-facing brands, we reach out to potential claimants across television, radio, social media, and other advertising avenues. Claimants contact our in-house 24/7 call center and are screened for eligibility using criteria created with leading litigators. These pre-qualified retainers are then delivered to your firm without any additional work on your part.

This process lets attorneys help more people without adding to their workload and gives claimants more power to find necessary legal aid. If you want to know more, call us at (844) 206-4644 or complete our online contact form today.