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In the six years since Victoria introduced a contingency fee regime, close to $200 million has been paid out to class action law firms. And with the Supreme Court soon to hear applications for approval of three more settlements, one firm is set to earn the highest payout to date.
The number of new class actions this year is on track to be the lowest in 10 years as plaintiff firms wait to see which way the High Court will lean in a crucial shareholder case and funders redeploy capital to nascent class action jurisdictions.
Class action settlements are off to a sluggish start in 2026, with only two mega-settlements of $100 million or more reached and the country's leading plaintiff law firm yet to get on the board.