Class Action Lawsuits Flashcards, test questions and answers

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What is Class Action Lawsuits?

Class action lawsuits are an important tool to hold companies accountable for their actions when they wrong a large group of people. A class action is a lawsuit brought by one or more people, on behalf of a larger group, against one or more defendants. The class action is an effective way to resolve disputes when numerous individuals have the same complaint and cannot afford to bring individual lawsuits due to the cost involved.In a class action lawsuit, the court appoints one or more representatives of the group as class representatives who will act on behalf of all members in the class. This helps avoid each claimant having to prove every individual’s claim separately, which would be very expensive and time consuming for all parties involved. Once it has been determined that a sufficient number of claimants exist in order to make up the requisite class, those claimants typically agree not to pursue separate legal actions against the defendant in exchange for being able to participate in any award from the suit as part of that collective body. Justifications for pursuing class-action lawsuits include compensating victims who may not have been able to pursue justice with individual suits due lack of financial resources or damages too small for an individual case; punishing wrongdoers; and deterring future bad behavior by holding companies and corporations responsible for their actions. These cases can also result in improved safety standards, changes in corporate policies and practices, increased market competition resulting from reduced monopolization tactics that harmed consumers, and improved products available on the market. Class action lawsuits can be complicated processes that require great attention paid by both sides – plaintiffs and defendants – along with their counsels during each step from filing suit through settlement or trial. Because such claims usually involve complex factual questions and legal issues due their size alone, these cases often take years before reaching resolution through settlement or trial verdicts depending upon how many parties are involved within them alongside how contentious they become between both sides over time. In conclusion, Class Action Lawsuits are a powerful tool used by consumers across America when seeking justice against companies engaged in fraudulent activities involving groups rather than just individuals alone providing them with much needed compensation while safeguarding them from lengthy court proceedings regarding similar grievances held between all parties involved due their complexity over time.