Business Community Takes Aim at Fraudulent Lawsuits
As you know, the legal environment greatly impacts the state’s competitiveness for jobs, business investment and growth. The business community is frequently targeted by fraudulent lawsuits that plague their ability to compete, as well as our nation’s overall economy. Businesses are implementing different ways to fight back against such fraud.
American Tort Reform Association’s President Tiger Joyce published an op-ed in the Wall Street Journal that encourages companies that can afford to do so to fight fraud by any means necessary. His article points to cases, including one in North Carolina, where the Racketeer Influenced and Corrupt Organizations Act (RICO) is being used as a tool with which companies themselves can fight against and deter fraud – without waiting for enforcement authorities to act. Additionally, this Bloomberg Businessweek story features an ATRA quote that also summarizes their time-to-get-tough-on-fraud position.
North Carolina Vision 2030 identifies our state’s legal climate as a key aspect of having a competitive business climate. North Carolina’s legal system must be fair and balanced for all parties and ensure the just, speedy and inexpensive determination of every action and proceeding. North Carolina’s legal system should not encourage unnecessary or fraudulent litigation that adds costs and prevents employers from creating jobs.
Gary J. Salamido
Vice President, Government Affairs
North Carolina Chamber