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 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 California Advocates for Nursing Home Reform has filed three class action suits against the state of California in federal court.
A class action suit was filed on behalf of 350,000 Audi owners, named and unnamed.
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.
Just this spring, the 2nd Circuit found that a mandatory arbitration clause in American Express customer agreements did not prevent merchant customers from filing class action suits.
Lawyers said the class action suit was designed to automatically cover anyone in the affected area around the 103-acre site, including parts of Burbank, Glendale, North Hollywood and Sun Valley.
A class action suit filed against Australia and New Zealand Banking Group (ANZ) (NYSE: ANZ) (ANZ.
Credit concerns are the system's pressure to fund long term capital needs, the long term impact of the $265 million DOJ settlement, lack of historical profitability and a pending class action suit associated with Medicare outlier reimbursement issues.
NAB settles toxic sub prime home loan class action suit
Plavix Patients' Lawsuit Comes on Heels of Class Action Suit Announced by Third-Party Payors Last Week
Citigroup(NYSE:C) agreed to pay USD590m to investors who had brought a class action suit against the bank for losses incurred because the bank allegedly hid the real facts of its exposure to collateralised debt obligations (COD)
public pension fund, was appointed lead plaintiff in the options backdating securities class action suit against UnitedHealth Group ("UnitedHealth" or the "Company") (NYSE:UNH) currently pending in the Federal Court in Minnesota.