Bryan Cave Leighton Paisner St. Louis Partner Christopher Schmidt and Los Angeles Partner Douglas Thompson spoke at the recent Mortgage Bankers Association (MBA) Legal Issues and Regulatory Compliance Conference. Their presentation, “Spokeo and Stacked Damages,” provided key insights and strategies to minimize class action risk arising from aggregated or “stacked” statutory damages in the class action context. A variety of financial services industry-related and other privacy and consumer protection statutes impact businesses with the potential of creating multi-million dollar class action liability. Schmidt and Thompson outlined legal developments regarding Article III injury-in-fact standing, including federal Circuit court splits in authority interpreting the Spokeo U.S. Supreme Court decision.
In addition to their presentation, Thompson introduced a general session panel focusing on important fintech and regtech regulatory developments, supervisory initiatives and related potential future legislative agenda.
Schmidt is a trial and class action lawyer whose litigation practice focuses on complex litigation, including class action defense, mass torts and professional and collegiate sports litigation. Schmidt is the lead relationship lawyer for a number of major firm clients, including financial institutions, professional sport franchises and other businesses. Schmidt has significant experience handling every aspect of complex litigation, including establishing pre-trial and trial strategy, managing e-discovery, engaging in dispositive motion practice, taking and defending critical depositions, formulating and implementing expert witness strategy, defeating class certification and leading jury and bench trials in state and federal court. Schmidt regularly counsels and advises clients on legal compliance to learn from litigation, minimize risk and establish best-practices.
Thompson is the Managing Partner of the Los Angeles office. In this role, he leads initiatives focused on strategic growth, client service, diversity and professional development. Immediately prior to this role, Thompson, also a class action litigator, led the firm's Class and Derivative Actions Client Service Group from 2011 through 2016. Thompson represents financial services institutions and other businesses defending against putative consumer class action matters in federal and state courts across the country. Over the course of his career, he has represented clients in more than 200 putative class actions. He also advises clients regarding risk in regulatory investigations and drives innovation, inclusion and value in legal services for his clients.
BCLP is a leader in advising financial institutions and other businesses to mitigate consumer class action risk and successfully resolve regulatory investigations. BCLP also brings critical depth in advising on evolving fintech issues globally.