Key Points from the Global Class Actions Symposium

ICLG’s Global Class action Symposium discussed the dynamic and evolving issues surrounding class actions and litigation funding. One takeaway is clear: attitudes about class actions and their funding are evolving with the industries themselves. Growing pains and a constant stream of regulatory changes point to new opportunities for claimants seeking compensation, and the lawyers and funders who serve them.

ICLG.com details the increased popularity of a belief in class actions as a means to improve access to justice. Class actions can be a boon to average people who have been harmed by a government, utility, or big business they could never hope to take on alone.

Experts from Harbour Litigation Funding and Berger Montague agree that while government regulation may serve to keep businesses honest—there are no provisions that address the losses experienced by those who have been wronged. In the end, governments will simply not be as motivated to seek recompense for claimants, even in large numbers.

As laws change and precedents are set, businesses increasingly take steps to identify and address potential class actions before they become realities. The recent ruling in Lloyd v Google illustrates that even mundane choices like the precise subsection of law being referenced can make or break a case involving millions of claimants.

Another theme discussed was the uneven maturity of class actions from one jurisdiction to the next. Australia has long enjoyed an amply regulated regime for class actions, while other parts of the world still struggle to set up a legal framework governing class action cases. Jurisdictional issues can complicate class actions, especially regarding securities, damages, and the overlapping legal constraints of cross-border litigation.

Finally, ESG class actions are a growing focus. These actions focus on environmental, social, and governmental issues that can cover everything from corporate malfeasance to climate change.