Labor and employment class actions increase by 10%

https://www.reuters.com/legal/legalindustry/labor-employment-class-actions-increase-by-10-2024-04-01/

By Brendan N. Gooley
April 1, 202411:57 AM CDT Updated 5 hours ago

April 1, 2024 - The 2024 Carlton Fields Class Action Survey has revealed that labor and employment class actions jumped approximately 10% in the last year. Nearly four out of five companies surveyed reported that they faced a labor and employment class action in the last five years. Even worse for these employers, survey respondents reported that labor and employment class actions account for the largest component of defense spending on class actions and that they expect such actions to continue to rise.

Now in its 13th year, the 2024 Carlton Fields Class Action Survey results were compiled from 332 interviews with general counsel, chief legal officers, and direct reports to general counsel.

Surveyed companies had an average annual revenue of $21.7 billion and a median annual revenue of $16.1 billion. They operate in more than 25 industries, including banking and financial services, consumer goods, energy, high tech, insurance, manufacturing, pharmaceuticals, professional services, and retail trade. The data collected presents a snapshot of the ways in which leading corporate legal departments identify, measure, and manage class action risk. 2024 Class Action Survey | Carlton Fields

The number of labor and employment class actions rises sharply

The number of labor and employment class actions rose again last year with a sharp jump.