Welcome to The Review – Class Actions in Australia 2021/2022, in which we consider significant judgments, events and developments between 1 July 2021 and 30 June 2022.
After a strong first half (39 class actions filed), the year to 30 June 2022 saw at least 54 new class actions filed, which marked the lowest total since 2017/2018.
The review period has seen:
- the Victorian Supreme Court becoming the jurisdiction of choice for securities class actions
- the number of securities class actions increasing from the previous review period, to reflect a higher proportion of total claims
- litigation funding remaining in the spotlight, with significant decisions in relation to both the availability of GCOs and a reversal of earlier precedent that litigation funding arrangements were managed investment schemes
- new claims emerging in relation to cryptocurrencies
- continuing focus on the risk of climate litigation.
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