A recent opinion from the U.S. District Court for the Northern District of Illinois is the latest in a series of federal judicial decisions narrowing the range of recoverable expert fees incurred in class-action litigation.
Abrams v. Van Kampen Funds Inc., decided on Feb. 21, 2006, represents a growing number of federal decisions denying reimbursement of excessive expert-related expenses. Abrams, with a focus on fees for experts in the securities field, should be particularly comforting to directors and officers liability insurers.
The Abrams case is noteworthy because it appears to establish a relatively clear ceiling for reasonable customary expert rates in the absence of contrary evidence. This is significant considering the ever-increasing expert expense amounts claimed pursuant to various cost recovery mechanisms available to litigants today.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
