[Report] Shareholder Class Actions are Changing in 2025 – Here’s Why

Alec Shirkey
March 26, 2025

Filing complete and accurate class action claims has never been simple, but it’s truer today than ever. Institutional investors face a growing list of recovery challenges that even five years ago were less pronounced or did not exist.

That’s the overarching conclusion investors can draw from FRT’s 2025 Securities Class Action Intelligence Report, which analyzes the many hundreds of shareholder class actions filed, settled, or disbursed from 2020-24. Our briefing covers several emerging trends and opportunities that we hope investors can use to make more informed filing decisions and, ultimately, futureproof their recovery programs. For example:

  • U.S. Class Actions: We have seen more frequent auditing of high-value claims and scrutiny of supporting documentation as settlement administrators prioritize fraud prevention
  • SEC Fair Funds: Participation requirements continue to evolve as the agency plans to enforce documentation standards more consistently
  • Antitrust: Rate-fixing cases resulted in two of the year’s largest investor payouts overall
  • Global: Litigation funders are coalescing around key jurisdictions as securities laws further develop

Despite these changes, billions of settlement dollars still pass through the courts annually. Investors recouped more than $7 billion from shareholder recoveries in 2024, spanning all major case types. New filings and settlements held steady in core U.S. securities class actions, which disbursed $5.8 billion last year, while antitrust cases produced two of the year’s largest distributions overall.

These figures reinforce the importance of shareholder recovery programs as a source of fund revenue. They also underscore the financial and reputational stakes of missed or incomplete filings. Investors who adapt their class action programs to the changing landscape will be best positioned to capitalize on a wider range of recovery opportunities and generate more operational alpha.

We encourage you to read our findings for a closer look at how class actions are changing, what’s next, and how your firm can prepare for the future.

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Founded in 2008, Financial Recovery Technologies (FRT) is a leading technology-based services firm that helps the investment community identify eligibility, file claims and collect funds made available in securities and other class action settlements. Offering the most comprehensive range of claim filing and monitoring services available, we provide best-in-class eligibility analysis, disbursement auditing and client reporting, and deliver the highest level of accuracy, accountability and transparency available. For more information, go to www.frtservices.com.

 

This communication and the content found by following any link herein are being provided to you by Financial Recovery Technologies (FRT) for informational purposes only and does not constitute advice. All material presented herein is believed to be reliable but FRT makes no representation or warranty with respect to this communication or such content and expressly disclaims any implied warranty under law. Opinions expressed in this communication may change without prior notice. Firms should always seek legal and financial advice specific to their unique situation and objectives.