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Bad news for companies: After four years of declines, spending on class-action lawsuits rose 3.4% in 2015, according to a survey by law firm Carlton Fields.
The number of companies that face at least one major class-action suit increased from 53.8% in 2014 to 60.6% last year, the report adds. Carlton Fields estimates class-action suits will rise another 1.9% this year.
Consumer fraud and labor and employment are the most prevalent class-action suits, accounting for nearly half. Financial services may be at greater risk this year, the report shows, because of the Consumer Financial Protection Bureau's rule that limits arbitration.
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