A law firm was trying to extort Valve with 75k arbitration claims which would cost $3k per claim ($225mm total). As an alternative they offered to settle for $2.9k per claimant.
In the 5 years since the binding arbitration was introduced valve has had only 3 arbitration cases and won all three.
Thanks for sharing that info - I was just going off the recent headlines
To your second point, don’t companies normally win arbitration cases? I thought that was the whole point of it all - to make it easier for a company to win lawsuits
Yea, it looks like the win rate for consumers in arbitration is less than 1%. I’m not sure what consumers win rate is in court but it must be better than that.
A law firm was trying to extort Valve with 75k arbitration claims which would cost $3k per claim ($225mm total). As an alternative they offered to settle for $2.9k per claimant.
In the 5 years since the binding arbitration was introduced valve has had only 3 arbitration cases and won all three.
Summarized from the article.
Thanks for sharing that info - I was just going off the recent headlines
To your second point, don’t companies normally win arbitration cases? I thought that was the whole point of it all - to make it easier for a company to win lawsuits
Yea, it looks like the win rate for consumers in arbitration is less than 1%. I’m not sure what consumers win rate is in court but it must be better than that.
If it wasn’t better than that, no company would want arbitration cases.