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 ?
A spokesperson for the firm said while there isn't statewide data for the Carolinas on the precise number of class action suits, the firm is seeing a significant increase based on its own practice and what it's hearing from clients.
Trump, Senate Banking Committee Chairman Mike Crapo, R-Idaho, and others opposing the rule said its primary beneficiaries would be plaintiffs' attorneys who bring class action suits, a sentiment echoed by Richard Hunt, president and chief executive of the Consumer Bankers Association trade group.
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.
But there's one troubling aspect to the new law: It's retroactive, applying to at least one big class action suit that has already been decided.
First, a quick reminder: securities class action suits are filed by a company's shareholders against the company as well as its directors and officers.
A judge denied Comcast Corp.'s motion to limit an antitrust class action suit by forcing the plaintiff to bring his claims in arbitration.
Elena: "What can you tell us about the class action suits in the probiotics category?"
"The drop in cases filed in the second quarter was led by a sharp decrease in securities class action suits," explained John Molka, Senior Industry Analyst and author of the report.
The "opt-out" period, which will last five months, is a court requirement for class action suits. If 5,000 out of an estimated 80,000 residential schools students opt out of the agreement, "the deal falls, unless government decides otherwise," said Mr.
Supreme Court ruled that class action suits in which a company is listed nationally and trades on regulated national exchanges can no longer be pursued in state court, but must go to federal court.
Lufthansa said in a statement that the $85 million settlement, subject to court approval, would release it and Swiss International Air Lines from liability in the pending class action suits. It added that it has "applied for leniency to the US Department of Justice, the EU Commission and other authorities in other countries and received conditional immunity." It did not say how the offer, if approved, would affect the company financially or when it would incur the charge on its balance sheet.