Settlements Higher, Payouts Lower for NJ Law
In 2012, New Jersey's Division of Law brought in more money and paid out less than the year prior.
Attorney General Jeff Chiesa said the Division obtained settlements and judgments totaling about $200 million last year, $61 million more than 2011 figure.
According to a press release, settlements and judgments included more than $100 million from lawsuits related to alleged consumer, securities and other fraud, $61 million through environmental litigation, and more than $11 million through debt recovery litigation.
In addition, the amount of payouts from the state dropped by about $5 million last year.
"The Division of Law continues to do an excellent job of handling affirmative litigation, defending New Jersey statutes and preserving the state’s precious financial resources,” said Chiesa. “The judgments and recoveries we obtained through litigation last year are significant, and are a credit to the consistently-high caliber of legal work being done by our attorneys.”