{"id":1084,"date":"2024-01-10T10:58:49","date_gmt":"2024-01-10T14:58:49","guid":{"rendered":"https:\/\/blogs.duanemorris.com\/classactiondefense\/?p=1084"},"modified":"2024-01-10T10:58:49","modified_gmt":"2024-01-10T14:58:49","slug":"dmcar-trend-1-class-action-settlement-numbers-continued-to-spike-at-unprecedented-levels","status":"publish","type":"post","link":"https:\/\/blogs.duanemorris.com\/classactiondefense\/2024\/01\/10\/dmcar-trend-1-class-action-settlement-numbers-continued-to-spike-at-unprecedented-levels\/","title":{"rendered":"DMCAR Trend # 1 \u2013 Class Action Settlement Numbers Continued To Spike At Unprecedented Levels"},"content":{"rendered":"<p><strong><a href=\"http:\/\/blogs.duanemorris.com\/classactiondefense\/wp-content\/uploads\/sites\/56\/2024\/01\/T1-cover.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-1074\" src=\"http:\/\/blogs.duanemorris.com\/classactiondefense\/wp-content\/uploads\/sites\/56\/2024\/01\/T1-cover.png\" alt=\"\" width=\"1600\" height=\"900\" srcset=\"https:\/\/blogs.duanemorris.com\/classactiondefense\/wp-content\/uploads\/sites\/56\/2024\/01\/T1-cover.png 1600w, https:\/\/blogs.duanemorris.com\/classactiondefense\/wp-content\/uploads\/sites\/56\/2024\/01\/T1-cover-300x169.png 300w, https:\/\/blogs.duanemorris.com\/classactiondefense\/wp-content\/uploads\/sites\/56\/2024\/01\/T1-cover-1024x576.png 1024w, https:\/\/blogs.duanemorris.com\/classactiondefense\/wp-content\/uploads\/sites\/56\/2024\/01\/T1-cover-768x432.png 768w, https:\/\/blogs.duanemorris.com\/classactiondefense\/wp-content\/uploads\/sites\/56\/2024\/01\/T1-cover-1536x864.png 1536w\" sizes=\"auto, (max-width: 767px) 89vw, (max-width: 1000px) 54vw, (max-width: 1071px) 543px, 580px\" \/><\/a><br \/>\nBy Gerald L. Maatman, Jr. and Jennifer A. Riley<\/strong><\/p>\n<p><strong><em>Duane Morris Takeaway:<\/em><\/strong><em> As authors and editors of our firm\u2019s our Class Action Review, we identified ten (10) key trends in class action litigation over the past year. Trend # 1 focuses on the unprecedented number of massive class action settlements reached in the last 12 months. Aside from the Big Tobacco settlements nearly two decades ago, 2022 and 2023 have marked the most extensive set of billion-dollar class action settlements in the history of the American court system. <\/em><\/p>\n<p>In today\u2019s video blog, Duane Morris partner Jerry Maatman discusses how the aggregate monetary value of class action settlements continued to reach incredible highs in 2023, as plaintiffs\u2019 lawyers and government enforcement agencies monetarized their claims into enormous settlement values. In 2023, the plaintiffs\u2019 bar was successful in converting case filings into significant settlement numbers again. Tune in below to hear all about this or read the blog post blow for more information.<\/p>\n<p><iframe loading=\"lazy\" title=\"DMCAR Trend #1 \u2013 Class Action Settlement Numbers Continued To Spike At Unprecedented Levels\" width=\"525\" height=\"295\" src=\"https:\/\/www.youtube.com\/embed\/_NiOb6i4sXY?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<h3><strong>DMCAR Trend # 1 \u2013 Class Action Settlement Numbers Continued To Spike At Unprecedented Levels<\/strong><\/h3>\n<p>In 2023, settlement numbers exceeded expectations for the second year in a row.<\/p>\n<p>The cumulative value of the top ten settlements across all substantive areas of class action litigation hit near record highs, second only to the settlement numbers we observed in 2022.<\/p>\n<p>When the numbers for 2022 and 2023 are combined, the totals signal that we have entered a new era of heightened risks and higher stakes in the valuation of class actions.<\/p>\n<p>On an aggregate basis, across all areas of litigation, class actions and government enforcement lawsuits garnered more than $51.4 billion in settlements in 2023.<\/p>\n<p>The largest 20 settlements during 2023 are included on the below chart:<\/p>\n<p><a href=\"http:\/\/blogs.duanemorris.com\/classactiondefense\/wp-content\/uploads\/sites\/56\/2024\/01\/Top-20.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-1085\" src=\"http:\/\/blogs.duanemorris.com\/classactiondefense\/wp-content\/uploads\/sites\/56\/2024\/01\/Top-20.png\" alt=\"\" width=\"1025\" height=\"1419\" srcset=\"https:\/\/blogs.duanemorris.com\/classactiondefense\/wp-content\/uploads\/sites\/56\/2024\/01\/Top-20.png 1025w, https:\/\/blogs.duanemorris.com\/classactiondefense\/wp-content\/uploads\/sites\/56\/2024\/01\/Top-20-217x300.png 217w, https:\/\/blogs.duanemorris.com\/classactiondefense\/wp-content\/uploads\/sites\/56\/2024\/01\/Top-20-740x1024.png 740w, https:\/\/blogs.duanemorris.com\/classactiondefense\/wp-content\/uploads\/sites\/56\/2024\/01\/Top-20-768x1063.png 768w\" sizes=\"auto, (max-width: 767px) 89vw, (max-width: 1000px) 54vw, (max-width: 1071px) 543px, 580px\" \/><\/a><\/p>\n<p>Such numbers are second only to the value of class actions and government enforcement settlements in 2022, which topped $66 billion. Combined, the two-year settlement total eclipses any other two-year period in the history of American jurisprudence.<\/p>\n<p>In 2023, parties agreed to resolve 10 class actions for $1 billion or more. These settlements include the following:<\/p>\n<p><a href=\"http:\/\/blogs.duanemorris.com\/classactiondefense\/wp-content\/uploads\/sites\/56\/2024\/01\/Billion.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-1086\" src=\"http:\/\/blogs.duanemorris.com\/classactiondefense\/wp-content\/uploads\/sites\/56\/2024\/01\/Billion.png\" alt=\"\" width=\"1430\" height=\"497\" srcset=\"https:\/\/blogs.duanemorris.com\/classactiondefense\/wp-content\/uploads\/sites\/56\/2024\/01\/Billion.png 1430w, https:\/\/blogs.duanemorris.com\/classactiondefense\/wp-content\/uploads\/sites\/56\/2024\/01\/Billion-300x104.png 300w, https:\/\/blogs.duanemorris.com\/classactiondefense\/wp-content\/uploads\/sites\/56\/2024\/01\/Billion-1024x356.png 1024w, https:\/\/blogs.duanemorris.com\/classactiondefense\/wp-content\/uploads\/sites\/56\/2024\/01\/Billion-768x267.png 768w\" sizes=\"auto, (max-width: 767px) 89vw, (max-width: 1000px) 54vw, (max-width: 1071px) 543px, 580px\" \/><\/a><\/p>\n<p>In 2022, parties resolved 14 class actions for $1 billion or more in settlement dollars, making 24 billion-dollar settlements in two years. Reminiscent of the Big Tobacco settlements nearly two decades ago, 2022 and 2023 marked the most extensive set of billion-dollar class action settlements and transfer of wealth in the history of the American court system.<\/p>\n<p>The plaintiffs\u2019 class action bar scored rich settlements in 2023 in virtually every area of class action litigation. The following list shows the 10 most lucrative settlements across key areas of class action litigation:<\/p>\n<p><strong>$25.82 Billion \u2013 Products liability class actions and mass tort<br \/>\n<\/strong><strong>$11.74 Billion \u2013 Antitrust class actions<br \/>\n<\/strong><strong>$5.4 Billion \u2013 Securities fraud class actions<br \/>\n<\/strong><strong>$3.29 Billion \u2013 Consumer fraud class actions<br \/>\n<\/strong><strong>$1.32 Billion \u2013 Privacy class actions<br \/>\n<\/strong><strong>$762.2 Million \u2013 Discrimination class actions<br \/>\n<\/strong><strong>$742.5 Million \u2013 Wage &amp; hour class and collective actions<br \/>\n<\/strong><strong>$643.15 Million \u2013 Civil rights class actions<br \/>\n<\/strong><strong>$580.5 Million \u2013 ERISA class actions<br \/>\n<\/strong><strong>$515.75 Million \u2013 Data breach class actions<br \/>\n<\/strong><strong>$263.58 Million \u2013 Government enforcement actions<br \/>\n<\/strong><strong>$139.67 Million \u2013 Labor class actions<br \/>\n<\/strong><strong>$103.45 Million \u2013 TCPA class actions<br \/>\n<\/strong><strong>$100.15 Million \u2013 Fair Credit Reporting Act class actions<\/strong><\/p>\n<p>Many of the settlements in 2023 emanated outside of the products and pharmaceutical space, signaling a wider base and greater threat to businesses as settlements continue to redistribute wealth at a substantial rate. Furthermore, the settlements reached virtually all industries and areas of the country.<\/p>\n<p>Particularly when viewed next to the settlement values observed in 2022, the settlement numbers in 2023 signal a new era of class action settlement values.<\/p>\n<p>Corporations should expect such numbers to incentivize the plaintiffs\u2019 class action bar to be equally if not more aggressive with their case filings and settlement positions in 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Gerald L. Maatman, Jr. and Jennifer A. Riley Duane Morris Takeaway: As authors and editors of our firm\u2019s our Class Action Review, we identified ten (10) key trends in class action litigation over the past year. Trend # 1 focuses on the unprecedented number of massive class action settlements reached in the last 12 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/blogs.duanemorris.com\/classactiondefense\/2024\/01\/10\/dmcar-trend-1-class-action-settlement-numbers-continued-to-spike-at-unprecedented-levels\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;DMCAR Trend # 1 \u2013 Class Action Settlement Numbers Continued To Spike At Unprecedented Levels&#8221;<\/span><\/a><\/p>\n","protected":false},"author":575,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[106],"tags":[],"ppma_author":[7,9],"class_list":["post-1084","post","type-post","status-publish","format-standard","hentry","category-duane-morris-class-action-review"],"authors":[{"term_id":7,"user_id":575,"is_guest":0,"slug":"gmaatman","display_name":"Gerald L. Maatman, Jr.","avatar_url":"https:\/\/blogs.duanemorris.com\/classactiondefense\/wp-content\/uploads\/sites\/56\/2022\/09\/maatmangerald-100x100.jpg","author_category":"","last_name":"Maatman Jr.","first_name":"Gerald L.","job_title":"","user_url":"https:\/\/www.duanemorris.com\/attorneys\/geraldmaatman.html","description":"<a href=\"https:\/\/www.duanemorris.com\/attorneys\/geraldmaatman.html\">Read Gerald's bio.<\/a>"},{"term_id":9,"user_id":576,"is_guest":0,"slug":"jariley","display_name":"Jennifer A. Riley","avatar_url":"https:\/\/blogs.duanemorris.com\/classactiondefense\/wp-content\/uploads\/sites\/56\/2023\/08\/rileyjennifer-100x100.jpg","author_category":"","last_name":"Riley","first_name":"Jennifer A.","job_title":"","user_url":"https:\/\/www.duanemorris.com\/attorneys\/jenniferriley.html","description":"<a href=\"https:\/\/www.duanemorris.com\/attorneys\/jenniferriley.html\">Read Jennifer's bio.<\/a>"}],"_links":{"self":[{"href":"https:\/\/blogs.duanemorris.com\/classactiondefense\/wp-json\/wp\/v2\/posts\/1084","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.duanemorris.com\/classactiondefense\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.duanemorris.com\/classactiondefense\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/classactiondefense\/wp-json\/wp\/v2\/users\/575"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/classactiondefense\/wp-json\/wp\/v2\/comments?post=1084"}],"version-history":[{"count":0,"href":"https:\/\/blogs.duanemorris.com\/classactiondefense\/wp-json\/wp\/v2\/posts\/1084\/revisions"}],"wp:attachment":[{"href":"https:\/\/blogs.duanemorris.com\/classactiondefense\/wp-json\/wp\/v2\/media?parent=1084"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/classactiondefense\/wp-json\/wp\/v2\/categories?post=1084"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/classactiondefense\/wp-json\/wp\/v2\/tags?post=1084"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/classactiondefense\/wp-json\/wp\/v2\/ppma_author?post=1084"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}