The strength of a class action lawsuit places the person with a claim (Plaintiff) on level with influential corporate entities (Defendant). There are certain requirements that must be met in order to proceed with a class action lawsuit.
In order to proceed with a class action lawsuit, a plaintiff's lawyer must first file the lawsuit and ask the Court to approve or certify a class. In making this decision, the Court will consider four major factors:
* First of all, there must be enough people affected by the illegal practice to justify a class action. The Court will take into consideration whether it is better to hear them together as a class or separately.
* Second, the complaints of the plaintiffs must be based on legal grounds, which are common to all class members.
* Third, the damage or injuries to all members of the prospective class must be similar and the claims should be typical of all members of the class.
* Fourth, the law firm bringing the case must be willing and able to represent the interests of all members of the class.
After considering the factors above, the Court may certify the class and allow the case to proceed as a class action lawsuit. At that time, prospective members of the class must be notified of the action and allowed an opportunity to opt out of the class representation. Class members, who opt out, then have an opportunity to proceed in an individual claim against the defendant. Individuals, who qualify as members of the class and fail to exclude themselves from the class action, are bound by the final judgment in the case.
Certain areas of the law are better suited for class action cases than others. Following are some examples of claims well suited for class action lawsuits:
* Deceptive Trade Practices Claims against a corporation or group of corporations.
* Claims against manufacturers for injuries resulting from unsafe products like prescription drugs, automobiles, machinery, recalled products and any thing that is made that causes injury
* Insurance companies routinely denying the payment of benefits in disability claim which results in claims.
* Claims against companies for charging unauthorized fees to consumers in retail installment contracts.
* Securities and anti-trust fraud claims.
security , ( Definition }
An investment instrument, other than an insurance policy or fixed annuity, issued by a corporation, government, or other organization which offers evidence of debt or equity. The official definition, from the Securities Exchange Act of 1934, is: "Any note, stock, treasury stock, bond, debenture, certificate of interest or participation in any profit-sharing agreement or in any oil, gas, or other mineral royalty or lease, any collateral trust certificate, preorganization certificate or subscription, transferable share, investment contract, voting-trust certificate, certificate of deposit, for a security, any put, call, straddle, option, or privilege on any security, certificate of deposit, or group or index of securities (including any interest therein or based on the value thereof), or any put, call, straddle, option, or privilege entered into on a national securities exchange relating to foreign currency, or in general, any instrument commonly known as a 'security'; or any certificate of interest or participation in, temporary or interim certificate for, receipt for, or warrant or right to subscribe to or purchase, any of the foregoing; but shall not include currency or any note, draft, bill of exchange, or banker's acceptance which has a maturity at the time of issuance of not exceeding nine months, exclusive of days of grace, or any renewal thereof the maturity of which is likewise limited.
AI
Market Data 
Markets 
