This is an interesting and informative link to a report about legal Class Actions in Australia.
REPORT INTRODUCTION
Class actions are now an established part of Australia’s litigation landscape, providing an attractive alternative for plaintiffs to pursuing individual claims.
From the perspective of defendants - usually companies but sometimes directors and increasingly advisors also - class actions are significant not only because of the possibility of liability, but also due to the reputational consequences and the costs of defending the action.
They also make the task of resolving regulatory action more complex.
For group members, the class action regime enables them to take advantage of the cost and other pressures that class actions place on defendants to settle, without exposure to costs orders.
The growth of share market investment coupled with the rise of litigation funding and the increased sophistication of the plaintiff firms has seen a significant rise in claims within the financial services and securities sectors and competition law claims.
We have also seen a resurgence in the more traditional consumer protection and product liability claims.
This report provides a snapshot of the key class action decisions in 2011, to see how the Courts’ management of class actions is affecting outcomes for plaintiffs and defendants.
The report looks at hot topics such as the size of recent settlements and the role of litigation funders, but also looks at the broader class action framework to explore who is running, defending and participating in class actions and the types of claims that are being pursued.
We hope that you find it informative.
Moira Saville
Partner
King & Wood Mallesons
Roger Forbes
Partner & Practice Team Leader
King & Wood Mallesons
Peta Stevenson
Senior Associate
King & Wood Mallesons
