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 ?
The bill would make sure that federal courts would not be able to allow class action suits to move forward unless every person in the suit can prove they had the same type of injury.
For more InsideCounsel coverage of class action suits, see: Large hotel chains and online retailers face price-fixing suit Visa/Mastercard credit card fee settlement with retailers moves forward "Black Swan" intern suit may get bigger Judge dismisses daters' lawsuit against Match.
There were 37 securities class action suits filed in the second quarter, down from 70 cases the quarter before.
15) Furthermore, the BJR, statutes and D & O insurance do not provide protections for criminal activity unlike shareholder derivative or class action suits.
The Swedish consumer ombudsman (KO) said on Tuesday (21 June) that the Umea district court had given the go-ahead for Sweden's first class action suit.
D & O risk assessment resources available to both underwriters and insurance buyers include such things as corporate governance scoring systems and accrual accounting metrics that tie accounting practices to the probability of being the target of a securities class action suit.
S-353 is a federal bill that would authorize federal courts to hear national interstate class action suits and allow defendants to move national class action cases from state to federal court.
Infuriated by the lien, Lynn Roy became the named plaintiff in a class action suit filed in 1994 against the state Department of Health Services on behalf of at least 300 spouses of Medicaid recipients.
That represents a continuation of a downward trend that began in 2005, when securities class action suits represented about half of all securities suits filed.
The decision has huge implications for the future of class action suits, which largely exist to allow plaintiffs to pursue claims collectively when it is too expensive to do so individually.
Suppose these class action suits by the syndicate of seasoned plaintiffs' lawyers, led by Richard Scruggs, are successful.
However, Securities Class Action Suits Likely to Decrease in Significance