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 ?
Following the entry of the final judgment and order of dismissal with prejudice in the state court class action lawsuit, there has been a 30-day period to appeal the final judgment and order.
Callahan, McCune & Willis has settled several major class action lawsuits against major retailers in the past including Mervyns, Oracle and Radio Shack.
Abuse of the class action lawsuit system includes frivolous claims, gaming of the system to keep cases in lenient state courts, and collusive statements.
LERACH COUGHLIN STOIA GELLER RUDMAN & ROBBINS LLP FILES CLASS ACTION LAWSUIT AGAINST SIERRA WIRELESS, INC.
The Company is currently in discussions to resolve both the shareholder class action lawsuit and the SEC investigation as soon as practicable.
A federal class action lawsuit alleging systemic discrimination against African-American, Latino, and women employees.
Last November, a bipartisan group of Senators negotiated a legislative compromise on class action lawsuit abuse.
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.
Questions and Answers Concerning CMA's Participation in a Class Action Lawsuit Against Major For Profit Health Plans.
DETROIT -- Class counsel announced that homeowners in Michigan today filed a class action lawsuit against Carrier Corporation, the manufacturer of Carrier and Bryant condensing furnaces (also marketed under the brand names "Day & Night" and "Payne").