Class actions have featured frequently in the press in recent years, often with a theme of a developing crisis for Australian business. It is, however, important that class action risk be assessed by reference to objective data rather than the headlines. Having gathered and analysed that data, our report identifies some interesting trends that run counter to some of the typical commentary.
- While class action filings are increasing, the number of companies facing class actions has fallen.
- The biggest contributor to class action risk in recent years is the number of law firms looking to commence class actions, rather than litigation funders.
- Although the vast majority of class actions are settled, the data suggests that so-called 'blackmail settlements' are not as common as some suggest.
To read this report, download the PDF.