Class actions plateau at new normal

Original article by Michael Pelly
The Australian Financial Review – Page: 38 : 27-Nov-20

Law firm King & Wood Mallesons has released its latest annual report on class actions, reporting that 55 were filed in 2019-20, while more than 35 class action settlements were approved by the courts. Fourteen of the 2019-20 class actions related to financial products, while 13 related to securities. KWM contends that companies are being pushed prematurely into liquidation as a result of what it describes as "multiple and expensive claims" against them, while it suggests that there could be a decline in the number of class actions that are supported by litigation funders.

CORPORATES
KING AND WOOD MALLESONS

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