class action lawsuit

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Class Action Lawsuit

A lawsuit that occurs when multiple people, who claim to have been wronged by the defendant in the same or a similar way, seek restitution, even if the alleged wrongs occurred at different times. For example, multiple shareholders may file a class action suit against a company if they suffered losses from similar fraudulent actions. Proponents of class actions lawsuits contend that they allow "the little guy," however defined, to seek justice. Opponents argue that they enrich attorneys and do not necessarily help the actual plaintiffs. See also: Tort reform, Class Action Fairness Act of 2005.

class action lawsuit

A lawsuit in which one party or a limited number of parties sue on behalf of a larger group to which the parties belong. For example, investors may bring a class action lawsuit against a brokerage firm that has actively promoted a tax shelter without having adequately disclosed the attendant risks. See also shareholder derivative suit.
References in periodicals archive ?
Dabit, the high court ruled that plaintiffs' lawyers no longer may bring securities class action lawsuits in state courts where the securities at issue are listed nationally and traded on a national exchange.
A nationwide effort by state medical associations to file class action lawsuits against the major offending insurance companies is now under way.
These class action lawsuits strike at the very basis of managed care, and as such they deserve particular analysis.
NYSE: LA) today announced that the United States District Court for the Central District of California approved the Company's Settlement Agreements with respect to three separate consolidated shareholder securities class action lawsuits against the Company.
amp; TORONTO -- Class counsel announced that homeowners in Wisconsin and Ontario filed today separate class action lawsuits against Carrier Corporation, the manufacturer of Carrier and Bryant condensing furnaces (also marketed under the brand names "Day & Night" and "Payne").
As previously reported, the remaining set of class action lawsuits in which Triton is a defendant is part of what is referred to as the "IPO laddering" claims.
The mid-year study also finds a large decline in market capitalization losses related to all securities fraud class action lawsuits filed so far in 2006.
filed the first class action lawsuits against Merck, on behalf of all citizens of Italy, England, France, Australia, Canada, New Zealand, South Africa, Germany, the Netherlands and Poland.
OB) today announced the completion of the settlement of the federal and state court class action lawsuits that were filed against the Company and its former executive officers, Thomas P.
Callahan, McCune & Willis has settled several major class action lawsuits against major retailers in the past including Mervyns, Oracle and Radio Shack.
OB) today announced that written settlement agreements have been executed to settle the federal and state court class action lawsuits that were filed against the Company and its former executive officers, Thomas F.
House of Representatives today and the Senate last week that will curb abusive class action lawsuits that can drive up real estate costs.