Shook Attorneys Author Nuclear Verdict Paper
The number of nuclear verdicts–jury verdicts worth $10 million or more–dropped off significantly during the COVID-19 pandemic but quickly rebounded to near-record highs by the third quarter of 2021, according to a new study authored by Shook Partner Cary Silverman and Senior Counsel Chris Appel.
Silverman and Appel wrote “Nuclear Verdicts: An Update on Trends, Causes, and Solutions,” which was published by the U.S. Chamber of Commerce Institute for Legal Reform. As part of the study, they analyzed nuclear verdicts in personal injury and wrongful death cases between 2013 and 2022. They also discuss national and state trends, the causes of nuclear verdicts, real-world implications of such verdicts and solutions.
While approximately half of the nuclear verdicts in the time period studied fell between $10 million to $20 million, a substantial amount (19%) included “mega” nuclear verdicts of more than $100 million. Silverman and Appel noted that such “mega” nuclear verdicts have become more common since the U.S. Chamber of Commerce’s last Nuclear Verdicts study, with record numbers in 2022 and likely 2023, based on preliminary data.
Silverman and Appel drew a connection between nuclear verdicts and nuclear settlements, noting the latter has real-world impacts on consumers.
“This litigation inflation contributes to the increasing costs of everyday items and services—including food, housing, and medical care—and the cost of automobile, homeowners, and commercial insurance,” they said. “Rising lawsuit costs can also inhibit job growth and new investments for businesses or industries.”
