Civil RICO Claims: How Are Treble Damages Calculated?
The federal Racketeer Influenced and Corrupt Organizations (RICO) Act and the Florida Racketeer Influenced and Corrupt Organizations (RICO) Act are laws that bar racketeering activity. While you often hear both statutes associated with criminal matters, both the federal RICO Act and the Florida RICO Act allow for the filing of civil lawsuits to seek damages for losses caused by racketeering.
Prevailing in a civil RICO claim—either federal or state—is not easy. That being said, it can be a powerful remedy for individuals and businesses. One key reason is that civil RICO allows for the recovery of treble damages. Below, our West Palm Beach RICO claims lawyers provide an overview of the calculation of treble damages.
Civil RICO Lawsuits: What are Treble Damages?
As a starting point, it is important to understand what treble damages are and how they work in civil legal matters. For the most part, damages in a federal or state lawsuit are designed to be primarily compensatory in nature. In other words, damages are proportional to the actual losses incurred by the plaintiff due to the wrongful conduct of the defendant.
In American law, a limited number of statutes contain specialized provisions allowing for the recovery of treble damages. Simply defined, treble damages are “triple” damages. They permit a plaintiff to recover financial relief worth three times their actual losses.
Treble Damages are Calculated Based on Actual Financial Harm
As civil RICO statutes allow for the recovery of treble damages, a plaintiff who brings a successful civil RICO claim may be entitled to obtain financial relief valued at three times the actual damage they sustained due to the defendant’s racketeering related activities.
For plaintiffs in a civil RICO claim in South Florida, this means that it is imperative that their damages are well-documented. The actual harm that you sustained due to racketeering activity will form the basis of any award. Treble damages are not technically penalty damages. Without actual damages, there is no path to financial recovery through a civil RICO lawsuit.
Civil RICO Laws Allow for the Recovery of Attorneys’ Fees and Other Legal Costs
Federal civil RICO laws and Florida civil RICO laws are clear: A plaintiff who files a successful claim has the right to recover financial relief for their attorneys’ fees and other reasonable legal costs. If you have any specific questions or concerns about recovering attorneys’ fees and legal fees as part of civil RICO litigation, our South Florida commercial litigation law firm is available to help.
Get Legal Support From a Top Civil Rico Lawyer in Southeastern Florida
At Pike & Lustig, LLP, our Florida civil RICO attorneys are tireless, effective advocates for our clients. With deep expertise in state and federal civil RICO claims, we are here to protect your rights. Call us now or contact us today if you have questions about treble damages. We provide legal services to communities throughout South Florida, including in West Palm Beach, Fort Lauderdale, and Miami.