Class Action Settlement

Definition

Settlements in class action suits are usually agreed upon by both parties prior to the court's ruling on a motion to certify a class. However, they can also occur after the class action has already gone to litigation.

By definition, a class action settlement is the money awarded for the group of plaintiffs who file a class action case. This money is then divided accordingly among the victims in a class action suit.

There are times when class action settlement is unfair to the participants or class. Examples of such cases include situations:

  • when a proposed settlement fails to create a substantial return for the class

  • a class action that was filed as an action for compensatory damages is settled without compensation at all yet the attorney fees are astronomical

  • the settlement seems more beneficial as a marketing tool for the defendant than it does for the plaintiffs, or

  • the attorney fails to notify the class of the fees that will be sought out of the settlement

Class action settlement is beneficial for plaintiffs

A class action case can be resolved through settlement or a trial. With the right evidences the two parties can agree to opt for settlement. This will still, require a mediator to be sure that there will be a fair awarding of compensation. A class action settlement is beneficial because this will help the parties involved to save up on their finances that otherwise will be all used up in a lengthy court trial.

In th process, the plaintiffs’ lawyer and defendant’s lawyer will still have to present the evidences and arguments of each party. The judge will be the one to evaluate the facts presented by them and will decide accordingly.

The result of the class action settlement is binding for both the named plaintiffs and the entire group. Before the issuance of the final result, the members of the class will be given a notice and they decide if they want to opt out of the suit and pursue the case by him.


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