Class action

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Class action

A legal complaint filed by a lawyer or group of lawyers for a group of petitioners with an identical grievance, often with an award proportionate to the number of shareholders involved.

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.
References in periodicals archive ?
The proposed class-action lawsuit was filed in Hamilton County Court in Cincinnati, Ohio under the Ohio Consumer Sales Practices Act.
Attorney Steve Berman, known for his national expertise in class-action lawsuits including the Big Tobacco settlement, filed a lawsuit on behalf of Ohio residents who have installed AOL 5.
Seattle attorney Steve Berman, known for his national expertise in class-action lawsuits, filed the lawsuit on behalf of all Colorado residents using AOL 5.
Attorney Steve Berman, known for his national expertise in class-action lawsuits including negotiating the Big Tobacco settlement, filed the lawsuit on behalf of all AOL 5.
Gregory III, the chairman of the board and chief executive officer of MIP, stated: "The company has elected to postpone the meeting in order to allow the stockholders of MIP an opportunity to analyze supplementary disclosure regarding a recently filed purported class-action lawsuit, which was mailed to the stockholders on or about Sept.
Both MIP and JER intend to consummate the merger promptly after obtaining the requisite approval of the stockholders of MIP notwithstanding the recent filing of the purported class-action lawsuit against MIP and JER.
Class-action lawsuits are not only costly and potentially lethal to insurance companies--they increasingly undercut the decisions of state regulators, industry representatives told the National Association of Insurance Commissioners.
Large-scale legal proceedings such as class-action lawsuits create a level of complexity, difficulty and special requirements most attorneys have never experienced.
If it's not a shareholder winding up with pennies in a settlement or a corporate chief who spends millions to defend the suits, then it's a politician who is complaining about class-action lawsuits.
Seattle attorney Steve Berman, known for his national expertise in class-action lawsuits, filed a lawsuit on behalf of Washington state residents under the Consumer Protection Act.