Dr. Janet Netz was the chair of the panel on Models of Damages Assessment at the Perfect Law 2024 Global Class Actions and Mass Torts Conference in London, England, this past May 23-24. Dr. Netz and participants Derek Ho, Tjeerd Krol, Dr. Dante Quaglione, and Thierry Wetzel discussed the role of damages assessment in class actions; how the composition of the class impacts the assessment of damages; and how data availability guides which damages models can be implemented.

Dr. Netz spoke on the two steps to calculating damages: estimating the overcharge, which determines damages to direct purchasers, and estimating the pass-through rate, which determines damages to indirect purchasers. The overcharge is crucial to determining damages whether the goal of competition (or other) law is deterring bad acts or compensating consumers for harm done. Pass-through is crucial only for compensation.

The panel also emphasized that data availability can significantly impact the precision with which damages can be estimated. Dr. Netz explained how a rigorous analysis, as required in the U.S., can be applied to both detailed, transactional data and aggregated data, depending on what data are available.

The Global Class Actions and Mass Torts Conference is a prestigious international event that focuses on collective redress—an umbrella term for the various legal mechanisms that allow a large group of individuals who have suffered similar harm or injury to pursue their claims together. The annual conference includes the world’s leading legal and litigation experts to share insights into class actions and mass torts as these types of cases become more common in Europe and other areas outside the U.S.