Class action spending reaches new high in 2020

The pandemic has ignited a spike in class action lawsuits nationwide, according to a new report from law firm Carlton Fields.

Class action spending in the U.S .is growing at more than twice the rate of other litigation spending, the report finds, reaching a new high of $2.9 billion in 2020. The number of companies facing class actions is the highest in a decade, adds the report, and corporate counsel report an increasing number of complex class action matters. Carlton Fields has more than 330 attorneys and government and financial services consultants who work out of six states and Washington, D.C. It has a big presence in the Tampa market.