The number of class action settlements dropped significantly, as it did in almost all areas of litigation. Class action settlements are the lowest on record. While 2021 saw a jump due to the resolution of older matters that had sat in 2020 during the early pandemic, in this year’s 2023 Carlton Fields Class Action Survey, the percentage of settlements in 2022 was the lowest in five years by a wide margin.

The percentage of individual settlements, however, increased from last year. On average, 46.2% of class action settlements were on an individual basis in 2022, up from 37.8% last year, and in line with prior years. This may have resulted from the higher number of labor and employment class actions that companies faced in 2022, as those matters can sometimes be settled on an individual basis, depending on the allegations.