Class action comedown
A new report shows class action activity for 2024 is on track for the lowest number of new cases in more than a decade. But Allens lawyers caution the slump could merely be a blip.
In the first half of the year, just 14 new class action claims were filed in the courts, according to fresh research from law firm Allens.
If the trend continues, it’s a number that could put filings at their lowest level in more than 10 years. But corporates shouldn't breathe easy.
In their mid-year wrap of class action activity, lawyers at Allens say “there is reason to remain cautious”, as law firms and funders that initiate group actions “maintain an appetite to pursue a broad base of claims with emerging areas of risk”. They add that a looming High Court decision will influence future consumer claims against carmakers — a popular area of class action activity in recent years.
New shareholder claims and data breach-related class actions have been particularly absent so far this year.
