Whether the target is Silicon Valley, Wall Street, BP or Volkswagen, state attorneys general are quick to enter the fray when a company or industry finds itself in the hot seat. In coordination with each other or with private plaintiffs firms, their impact can rival the federal government’s in consumer, data privacy, environmental and government fraud litigation.

Defense firms are only too happy to point out the threat—and, increasingly, to offer dedicated practice groups for dealing with state AG investigations.