Class action surge
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The number of class action claims faced by FTSE 100 companies globally jumped by 10 per cent over the last year, to 170 up from 155 in the previous year, according to new research by Thomson Reuters. Thomson Reuters said class action lawsuits, historically most prevalent in the US, are an increasing threat to UK corporates. The potentially very large pay-outs has attracted many litigation funders to actively seek out lawsuits to finance, in exchange for a proportion of any damages awarded.