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 trend of more class action suits could be a bit of "monkey see, monkey do," Werner said.
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.
A bill headed to the House for a vote on Thursday would reform class action lawsuits in the U.S., but opponents say the law would create such difficult hurdles to advancing class action suits in the courts that it would make the practice virtually impossible. 
In class action suits, large numbers of people who believe they have suffered harm - as a result of a defective product, for instance - band together to seek damages from the responsible party.
The judge also allowed the class action suit to seek injunctive relief, a court order that would require Target to encrypt all customer data from the point of sale and throughout the retailer's payment system.
We are joined tonight by our legal affairs expert, professor Carina Stumpf, MD, JD, of Millanova University School of Legal and Life Sciences, reporting on the fascinating trend of class action suits in the nutrition products sector.
A class action suit has been filed against Visa, Inc (NYSE: V), MasterCard (NYSE: MA) and some Canadian banks for allegedly conspiring to fix charges levied from merchants.
The class action suit was filed by Austrian consumer protection agency VKI.
WEST BROOKFIELD - The $2.5 million the town recently received as part of a nationwide class action suit against major oil companies will come up for discussion tomorrow at a special town meeting.
Manila: A religious denomination has filed a class action suit against several magazines it said were to blame for corrupting the youth.
has grown into a class action suit involving pension plans seeking compensation from State Street Global Advisors relating to the performance of its low-risk bond funds last year.
Glaves provides an example of a hypothetical class action suit with class membership numbering 100,000, in which each class member is to receive $40 as part of the settlement.