Consumers and investors may have had the experience of receiving a letter or postcard in the mail informing them they are part of a class action lawsuit. This type of litigation is often the best platform for recovery when a large number of people were adversely affected by the acts of a particular defendant(s) and it may not be economically viable for each damaged consumer or investor to file an individual claim.
Factors to consider
A class action lawsuit has a lead plaintiff, who is named as a party to the case, along with unnamed class members who make up the universe of people seeking to recover for the wrongs that have been done. If you have suffered damages as a result of the bad acts of another, and others like you have suffered the similar damages as a result of the same bad acts, it may be the best course of action to pursue the recovery of damages on a classwide basis. GFM’s attorneys will review a variety of factors to determine if this is the case. These factors include, among others, the number of people affected, whether the potential lead plaintiff is within the permitted time frame to file (in other words, is there a statute of limitations that is applicable to potential claims), whether any other similar lawsuits have already been filed and what the results were, whether another lawsuit making the same claims is already underway, and if a class action lawsuit is more appropriate than an individual one.
The Scope of class action claims
The scope of class action claims can vary greatly. For example, successful class action lawsuits have been brought against credit card companies for overcharging on debit fees, manufacturers and retails for false labeling and unlawful marketing, pharmaceutical companies for dangerous drugs and various public companies for accounting and other fraud that caused financial lossed to shareholders. These cases can be very fact specific, and GFM’s attorneys are able and available to evaluate your particular situation discuss potential claims.