Two key themes running through claims next year will be the recession brought about by Covid-19 and social justice activism.

There is no doubt Covid has wreaked terrible damage on the global economy. Demand has been decimated across several industries - most notably tourism, luxury goods, live entertainment, hospitality and retail. And this is just the first wave of affected sectors.

Look for shareholder suits against companies and boards that do not adequately reflect these realities in their financial disclosures and guidance. I see no reason why the increase in securities class actions, which we've seen over the past several years, would wane in any way.

As for social justice and activism issues, boards need to be sure that they are living up to their diversity and inclusion statements. Failure to do so in the wake of several high-profile, racially-charged events in 2020 have already lead to D&O litigation and will undoubtedly continue to lead to exposure.

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