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Class Action
(redirected from class-action)

   Also found in: Dictionary/thesaurus, Legal, Encyclopedia, Wikipedia 0.01 sec.
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.


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The law firm of Milberg Weiss Bershad & Schulman has had a successful record obtaining huge settlements for shareholders and policyholders in class-action suits against insurance companies.
The Class Action Fairness Act of 2005 will shift most large class-action lawsuits involving parties from different states to federal courts, removing them from the jurisdiction of state courts that historically have been more receptive to such suits.
20) Nearly ten years and thousands of coupon settlements later, one of many newspaper editorial boards calling for class action reform made essentially the same point: "something [is] terribly wrong with a legal system in which class-action lawyers can win settlements for their clients in the form of coupons while collecting hefty fees for themselves in cash.
 
 
 
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