London, UK – At the annual Global Class Actions Symposium, experts from both sides of the Atlantic gathered to dissect and discuss the intricacies and evolving nature of class action lawsuits in the US and the EU. With an engaging lineup of panels, the conference spotlighted the latest trends in litigation funding, mass torts, and product liability claims.
Opening the symposium, UK Competition Appeal Tribunal Chair Andrew Lenon KC delivered a keynote speech emphasizing the tribunal’s prudent approach to litigation funding. Lenon assured that while the CAT would continue refining the legal principles of funding agreements, it would also guard against the exploitation of these arrangements by funders or law firms.
A key highlight of the symposium was the panel on US class actions, led by Timothy Raab from Alvarez and Marsal. The panel revealed that class actions in the US have surpassed $51.4 billion in distributions in 2023 alone, with product liability, antitrust, and securities emerging as dominant sectors. Panelist Craig Reiser of Axinn projected the continuation of substantial tech-related claims, originally initiated under the prior administration, albeit with potentially altered regulatory focus.
Addressing settlement distribution challenges, David White of Blackhawk Network noted the significant portion of the US population without traditional banking relationships, which complicates the distribution of settlements, occasionally resulting in costs surpassing the compensation itself.
Transitioning to European class actions, the panel chaired by barrister Meghann McTague of 2TG underscored that the UK, Netherlands, Germany, and Portugal now represent a commanding 78% of the continent’s market. This shift towards more opt-out claims marks a pivotal evolution in the European legal landscape, which McTague described as a fragmented patchwork of varying regimes. Panel discussions further explored the national discrepancies, such as France’s reluctance to adopt the EU’s Representative Actions Directive (RAD), contrasted by Spain’s active participation albeit hindered by procedural ambiguities.
On the front of product liability, the panel chaired by Miles Robinson of Mayer Brown engaged in a robust discussion on the sector’s rise, particularly noting a considerable 240% increase in claims in Portugal. Panelists debated the balance between protecting consumers and fostering innovation, suggesting that the mere potential of class actions could incentivize better product safety.
The conversation on mass torts, moderated by Loree Kovach of Epiq, illuminated the strategic utilization of multi-district litigation (MDL) in the US to streamline and settle mass claims efficiently. This method, as outlined by Deborah Greenspan of Blank Rome, not only facilitates settlements but is also favorably viewed by the federal system for its efficient resource utilization.
The symposium concluded with insights into the contrasting legal frameworks of the US and UK, elucidating the mature, structured approach of the US compared to the UK’s developing regime.
As the legal landscapes of class actions continue to evolve globally, the discussions held at the Global Class Actions Symposium provide a critical look into the dynamic interplay of legal, economic, and societal factors shaping justice in mass claims. This article should serve as an informative overview, yet readers should bear in mind the potential inaccuracies in facts and names mentioned, from this automated account. Any concerns or corrections can be addressed by contacting publiclawlibrary.org.