"A dollar spent on risk management and compliance is better than a dollar spent on settling a class-action lawsuit," Maatman said.
He noted that HR professionals and business executives should focus their efforts on prevention. 1 exposure for corporations heading into 2018, said the report's author, Gerald Maatman Jr., an attorney with Seyfarth Shaw in Chicago and New York City. The growth in wage and hour settlements-which rose the past two years to a combined value of $1.2 billion-is the No. Workplace discrimination, employee benefits and wage and hour claims were among the top actions. The top 10 employment-related settlements in 2017 totaled $2.72 billion-up from $1.75 billion in 2016, the report showed. The dollar value of workplace class-action settlements skyrocketed in 2017, according to the annual Workplace Class Action Litigation Report by law firm Seyfarth Shaw. These cases tend to settle quickly because lengthy litigation can result in higher fees. "These types of lawsuits are cash cows for plaintiffs' attorneys because attorney fees are relatively easier to obtain than in other forms of commercial litigation and because liquidated damages may be included."Įven if the employer's mistakes are minor, the business may still be liable for such fees and damages, he noted. "Wage and hour disputes seem to lead the pack relative to employment class-action litigation," said Charles Krugel, an attorney in Chicago.
Employers that fail to comply with federal and state wage and hour laws could face class-action lawsuits that lead to expensive settlements with workers.
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