Group civil litigations cost Chicago-area economy $3.8B
CHICAGO -- A group that advocates for tort reform in Illinois says a new report concludes civil litigation ends up costing the Chicago-area economy some $3.8 billion a year.
The Illinois Civil Justice League will formally release the findings Monday. The report was prepared by a Texas-based analysis firm, The Perryman Group.
The president of Illinois Civil Justice League, John Pastuovic, singles out Illinois law that can force companies to pay most or all of a judgement even if they're found 25% liable. He says neighboring states set a much higher threshold of liability before a company has to pay the full judgement.
The Springfield-based Illinois Trial Lawyers Association has consistently criticized the league's findings and its reform efforts. Its website says there's no indication Illinois tort law dissuades businesses from setting up in the state.