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What is a Settlement Class Member?
Settlement Class Member means each person and entity who or which is a member of the Settlement Class. Based on 19 documents 19. Settlement Class Member means any one of, and Settlement Class Members means all of, the members of the Settlement Class.
What does bound by the settlement mean?
When a person opts out of a class action lawsuit, it means that he or she will not be bound by the judgment or settlement and retains the right to take legal action against the defendant over the same legal issue.
What is a legal notice of settlement of class action?
If you received a class action notice in the mail, this simply means that your legal rights may be affected by a lawsuit that was recently filed or settled. ... Notices are typically sent after a case has settled and will provide instructions on how to claim part of the settlement.
Why would you opt out of a class action lawsuit?
The notice, which will outline the allegations made by the suit, will also inform potential class members of their right to “opt out” of the suit. If you choose to opt-out of a class action, you will not be able to claim part of any settlement funds or court award that results from the case.
How long do class action settlements take?
How Long Does a Class Action Take? All class action is different some are resolved in a matter of months, while others may take several years. In general, most class actions take between two and three years to resolve, though some may take longer, particularly if a court ruling is appealed.
What is the difference between a class action lawsuit and a regular lawsuit?
A class action lawsuit occurs when a group of people takes action against the same company for the same source of injury, typically a defective product. ... This is different from standard personal injury lawsuits in which one plaintiff files a case against a defendant. Thus, all compensation awarded goes to the plaintiff.
What is the difference between a class action and a regular lawsuit?
A class action lawsuit occurs when a group of people takes action against the same company for the same source of injury, typically a defective product. ... This is different from standard personal injury lawsuits in which one plaintiff files a case against a defendant. Thus, all compensation awarded goes to the plaintiff.
What qualifies as a class action lawsuit?
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 for redress of a wrong, and all the parties are present in court.
Is a class action lawsuit worth it?
A class action lawsuit occurs when a large group of people suffer an injury or financial loss due to the same company or product. The actual damage to each person is usually so small it wouldn't be worth their time or money to sue individually. But when they form a class, the suit often is worth millions of dollars.
How is money divided in a class action lawsuit?
The Way Class Action Settlements Are Divided Generally, these lawsuits settle before going to court. ... Then, the lead plaintiffs are given an amount that is determined by their participation in the class action lawsuit. Finally, the rest of the settlement amount is divided among other class members.
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