What does class action mean?
Class Action: An Overview. A class action is a procedural device that permits one or more plaintiffs to file and prosecute a lawsuit on behalf of a larger group, or “class”.
What is an example of class action?
A common example is pharmaceutical fraud that results in the manufacture and distribution of a harmful drug that is used by many patients. Other injury examples include mass disasters such as social work or nursing home negligence, human rights violations, sexual abuse and sports litigation.
Why are class actions important?
Class actions provide a mechanism by which victims of wrongdoing or negligence can stand their ground against the vastly superior resources of large corporations or governments. Without a class actions regime, such people simply wouldn’t have the means to seek redress or compensation in the courts on their own.
What are the advantages and disadvantages of class actions?
A class action lawsuit erases this risk and allows injured parties to recover damages at the same time and in proportion to their injuries. Some of the common disadvantages of class action lawsuits include: Lack of decision making control.
What is the difference between a lawsuit and a class-action lawsuit?
Description. In a typical class action, a plaintiff sues a defendant or a number of defendants on behalf of a group, or class, of absent parties. This differs from a traditional lawsuit, where one party sues another party, and all of the parties are present in court.
What is the highest paid class-action lawsuit?
- 1.1 1. Tobacco settlements for $206 billion.
- 1.2 2. BP Gulf of Mexico oil spill $20 billion.
- 1.3 3. Volkswagen emissions scandal $14.7 billion.
- 1.4 4. Enron securities fraud $7.2 billion.
- 1.5 5. WorldCom accounting scandal $6.1 billion.
- 1.6 6. Fen-Phen diet drugs $3.8 billion.
- 1.7 7.
- 1.8 8.