Australia a contender to be home of global class actions

A recent article in lawyersweekly.com reports that an international study has named Australia as a frontrunner to become a regional centre for securities class action litigation.

The predictive study by consultancy firm Goal Group has forecast that class action settlements in the Asia-Pacific are expected to be worth $US3.4 billion by 2020.

“Australia could be responsible for a fair amount [of that],” said Andreas Costi, Goal Group’s director of sales for Australia and New Zealand.

Australia was nominated among only a handful of countries, including The Netherlands and Canada, as potential venues for non-US class actions, which are expected to produce a total of $US8.3 billion in settlements by 2020.

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