Class action


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Related to Class action: Class action lawsuit

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 ?
If the Radioshack class is certified by the Court of Federal Claims, depending on how the class is certified, taxpayers either (i) will be automatically included in the class action, or (ii) will have the option of affirmatively electing to be included in the class action.
An opt-in class action is a class action lawsuit that requires individuals to take affirmative action to be included in and bound by the resulting settlement or judgment.
You would think that Bogus, as someone whose thesis is that tort law should be viewed as an adjunct regulatory system, would be eager to tell us about the selfless efforts of the plaintiffs' class action bar over the past decade to establish nationwide standards using the juries of Madison County, a small rural area in southwest Illinois.
The lawyers' self-serving motives are most apparent in the spate of class actions against HMOs.
Hence, plaintiffs have sought to exploit the economies of scale afforded by class actions, without regard to whether such cases can be fairly presented on a "classwide" basis.
When the lawsuit was settled For $10 million in 1994, Wade was able to recoup one-third his investment, and some in the class action recovered up to 100 percent, depending on when they had invested.
Product class actions have been settled in similar scenarios, frequently with the support of the defendant.