Duane Morris Takeaway: This week’s episode features Duane Morris partners Jerry Maatman and Jennifer Riley with their analysis of class action settlement data in the first six months of 2026 and their prognostications for trends shaping the remainder of the year.

Read the full mid-year settlement review in our previous blog post.

Check out today’s episode and subscribe to our show from your preferred podcast platform: Spotify, Amazon Music, Apple Podcasts, Podcast Index, Tune In, Listen Notes, iHeartRadio, Deezer, and YouTube.

Episode Transcript

Jerry Maatman: Hello, everyone, and welcome to the next episode of the Class Action Weekly Wire. I’m Jerry Maatman, and with me today for the special mid-year review of class action settlements is Jen Riley. Jen, welcome back. Here we are halfway through 2026. What’s the big picture look like in the class action settlement space?

Jennifer Riley: Thanks, Jerry. Well, it’s been quite a ride. The data confirms essentially what we’ve been tracking since 2022. We are in a new era for class action litigation. Corporate defendants have been facing unprecedented settlement exposures. The total value of class action in government enforcement settlements hit $79 billion in 2025 that follows $66 billion in 2022, $51.4 billion in 2023, and $42 billion in 2024. As of mid-2026, we have already reached over $53 billion.

Jerry: That’s an enormous number. So, what we’re talking about is over $200 billion in just the last few years.

Jennifer: That’s exactly right. It is the largest multi-year span of settlements in U.S. legal history, and if current trends hold up, 2027 may end up ahead of the prior four years.

Jerry: Where are we seeing the biggest dollar amounts generated in these class action settlements?

Jennifer: Well, antitrust has historically had high settlements, and it is leading the charge this year with over $34 billion in settlements. Products liability and mass torts also have had big settlements this year, and has been no different in that area either, with almost $9 billion so far. Securities fraud settlements are also on track with last year’s numbers, and they’ve reached almost $2 billion so far.

Jerry: I know you track this space on a daily basis, 24-7. Any standout billion-dollar settlement cases come to mind?

Jennifer: So, there have been a few major ones. I would say the In Re College Athlete NIL Litigation is a big one. That one hit $2.78 billion alone. It finally gave athletes retroactive compensation for missed name, image, and likeness opportunities. So, that’s a historic shift in the landscape there. Also, worth noting that Purdue Pharma’s $7.4 billion opioid-related settlement. Just last week, Purdue announced that it is preparing to send an updated bankruptcy plan and proposed settlement to a vote following broad sign-on by all U.S. states and territories.

Jerry: These seem to be landmark figures. Are we seeing any high numbers of billion-dollar cases in and of themselves?

Jennifer: We are. So, there have been three billion-dollar settlements so far in 2026. That brings us to 45 total settlements over a billion dollars since 2022. That is the most in any four-and-a-half-year period ever.

Jerry: By your examination and analysis, are there any particular industries or sectors that are showing either surprising or emerging exposures in this area?

Jennifer: Great question. Data breach and privacy settlements have become increasingly prominent. Apple agreed to a $250 million settlement in a class action to resolve claims alleging that it misled millions of iPhone buyers by falsely touting AI capabilities for its Siri Voice Assistant 2024. Also, government enforcement settlements are on the rise. One of the billion-dollar settlements so far this year is an agreement with the New Jersey Department of Environmental Protection and EI DuPont to resolve the state’s claims over contamination caused by the manufacture and discharge of forever chemicals.

Jerry: Let’s talk antitrust. You referred to that before. What’s the headline here?

Jennifer: So, the antitrust sector is very active, with notable cases against the NCAA, as I mentioned earlier, as well as Visa, MasterCard, and RealPage. There is a sustained focus on wage suppression and market manipulation. Those have been key areas of concern for regulators, as well as for plaintiffs.

Jerry: Are you seeing the same sort of similar energy from the Planum sparred compared to past years?

Jennifer: Absolutely. In fact, the size and pace of these settlements suggests that plaintiffs’ attorneys are pushing harder than ever, likely encouraged by that sheer size of recent wins.

Jerry: When you look at the trends and the data analytics, do you see any areas that are cooling off in 2026?

Jennifer: Great question. So, civil rights settlements have been fairly low this year. We’re also seeing some slowdown in TCPA-related cases, although final settlement approval for $28 million was granted in a case against SiriusXM Radio to resolve claims alleging that it made telephone calls to people on the Do Not Call Registry, or Sirius’ internal Do Not Call Registry. But overall, most sectors are either holding steady or are growing.

Jerry: Any closing thoughts to what should be uppermost on the mind of corporate counsel in this area?

Jennifer: Yeah, so I would say the bottom line is that corporate defendants are operating in a legal environment where large-scale class actions, whether driven by consumers, employees, investors, or regulars, are pretty much a constant and a very costly risk. We’re in a high-stakes phase of class action litigation, and there’s really no indication that it’s slowing down or going to slow down in the foreseeable future.

Jerry: Well, Jen, thanks as always for your insights, and thanks to our listeners for tuning in. We will be sure to keep you updated with new developments on these settlement numbers. It sounds like for the upcoming Duane Morris Class Action Review – 2027 edition, is going to be a must-read.

Jennifer: I think it definitely will be. Thanks, Jerry, and thank you to our listeners.