No slowdown in new claims issued
Top 15 firms consistently hold 20% of new claims issued market share YOY, including RPC, Clyde & Co and Clifford Chance.
Solomonic tracks hundreds of new claims every month and adds to an extensive litigation database which numbers over 45,000 claims since 2014. Thousands of law firms have serviced the litigation market in the last 5 years - of these, roughly 700 firms have been involved in new litigation in the first quarter of 2022. Fewer than 150 of these are running more than 5 claims YTD.
Reviewing the litigation market based on new claim activity alone does not provide a full picture of the market, though it can provide interesting insights and be used as a proxy for market share and claim trends.
Top 15 law firms
The 15 most active law firms account for 19.5% of claims issued thus far, slightly lower than the approximately 20.2% for the same 3-month period last year. Of the claims issued this year, the court has revealed the defendant law firm in roughly half the claims to date. Nevertheless, this is still a significant segment of the market that the most active firms represent.
Disputes powerhouse RPC (Reynold Porter Chamberlain) lead, advising on the most issued claims, up from fourth to first compared to the same period in 2021. Over two thirds of their claims involve parties in the TMT, Manufacturing or Professional Service industries.
Hamlins are second, legal representatives for the Phonographic Performance and Performing Right Society, as well as acting for a multitude of further phone hacking claims against leading newspaper publishers. This is a sharp rise in activity, compared to the same period last year when the firm was only instructed in 3 new claims.
Litigation giants, and market leaders in 2021 and 2020, Clyde & Co sit in joint third position, representing a large range of different organisations across sectors including Consumer Products, Insurance and Professional Services.
Also in third are Leigh Day, advising the claimants in 100% of their recent activity, 10 of which are Competition List group actions claims against several of the largest automotive manufacturers and car dealerships.
Amongst the big hitters of the YTD are Kennedys, while DWF, DAC Beachcroft and TLT also feature. Gunnercooke and Lewis Silkin are new entrants amongst the top 15 for newly issued disputes.
Top claimant law firms
Hamlins and Leigh Day lead the pack in claimant representation. In third are Taylor Hampton Solicitors who also account for a large proportion of phone hacking disputes.
Simpson Millar Solicitors instigate the majority of their claims against Public Sector organisations, including the Ministry of Defence and the Home Office.
Knights mainly represent parties in the Real Estate sector for accelerated possession proceedings, symptomatic of a tough economic climate.
Top defendant law firms
Top defendant law firm of 2021, RPC maintain their leading position this quarter.
Magic circle giant Clifford Chance are amongst the most active, due in the main for representing News Group Newspaper, who are defending 40 new claims so far this year.
CMS Cameron McKenna Nabarro Olswang are third, representing a range of different clients including British Gas, Virgin Money and law firm Knights.
Solomonic continues to monitor new activity daily. If you are interested in learning more about how you can utilise this intelligence in real-time, contact us at +44 (0)20 7205 2924 or info@solomonic.co.uk.
All data correct as of 12:00 19th Apr 22.
NB: Our analysis includes all publicly available Queen’s Bench and Chancery Division claims but currently excludes Insolvency & Companies List, Property, Trusts & Probate List, Personal Injury & Clinical Negligence cases and Queen’s Bench Appeals.