Class-action suits have long been a way for common consumers to use their strength in numbers to address grievances and apply accountability against companies but have recently hit high walls since the business-friendly Class Action Fairness Act of 2005 was passed (See "Class-Action Law Gums Up Courts").
The Class Action Fairness Act (CAFA) of 2005 expanded federal jurisdiction over class-action lawsuits primarily to reduce so-called "forum shopping, " where plaintiffs would look for the locale friendliest to class-action cases and then file in courts there.
Designated Counsel are experienced class action attorneys with an understanding of how class action contingent litigations are to be managed in order to minimize or cap expenses and costs.
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With the passage of the Private Securities Litigation Reform Act, which required class action firms to seek the largest holders of securities to serve as lead plaintiffs in their cases, suddenly local pension lawyers were being offered substantial referral fees by national class action firms if they could persuade their pension clients to lead such class actions.
On June 20, the Supreme Court dismissed a class action against Wal-Mart brought about by its female employees, arguing that the women involved in the case did not share enough in common to meet the requirements of a class action lawsuit.
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But critics argued that federal courts set a higher bar for class-action suits, making it increasingly difficult for them to bring class-action suits against corporations.
This is a settlement of a data security breach class action lawsuit with 130M class members.
Even before the current crisis, the number of securities class-action suits filed during the first half of the year rose by more than 100% over the same period for the preceding year, according to a recent report by Stanford Law School Securities Class Action Clearinghouse.
The labor lawyers that migrate to advising public funds regarding investment matters are courted by class-action lawyers that offer to pay them enormous referral fees if they line up public funds as class-action plaintiff clients.
While the federal class-action law has not necessarily had an effect on the types of industries that are affected by class-action cases, there has been a decline in cases that have, for example, led to an Illinois law being applied to an insurance contract in Alabama, Frank adds.
Dewey said the Ninth Circuit allowed the plaintiff lawyers to sidestep a number of onerous provisions of class action law by certifying the class under a provision providing for injunctive relief.
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Business has less riding on this case than it did before 2005, when Congress passed the Class Action Fairness Act making it much easier to pull class actions out of state court into the federal system.
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If the proposed Class Action receives certification, there will be 41 people in the Class, and therefore there would be about 123 too many texts messages sent.
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While a class action can have the virtue of assuring equal justice to all class members, it can also have the vice of binding them to something less than justice.
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Forbes points to a consumer class action against a company called DirectBuy, in which, it says, attorneys for the class sold out consumers by agreeing to a settlement that provides nothing at all for half the class, and benefits of very little value to the other half.
The labor lawyers that migrate to advising public funds regarding investment matters are courted by class action lawyers that offer to pay enormous referral fees if the public funds they represent join in class actions.
In Oxford, the judges must decide whether an arbitrator was out of line by allowing a class action to proceed on behalf of some 20, 000 doctors even though there was no provision for class actions in the arbitration agreement between doctors and Oxford.
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It should go without saying that class action law firms with criminal histories are especially problematic.
Perusing yet another class action complaint filed in the Northern District of California, Gitson v.
David Lerner Associates and the Apple REITs emerge victorious in this contentious and high-profile class action.
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Last year the number of class action filings jumped to 207, according to NERA Economic Consulting.
Meanwhile, the class action lawsuit is going forward against Ameriquest's parent company, ACC Capital Holdings.
Now coming forward with treble-damage antitrust claims are the likes of class action attorney William Lerach.
In a 1998 class action suit, the city was sued for the same billing errors.
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In addition, an intern paid a stipend filed a class action suit against his employer.
Merrill Lynch is expected to face a class action later in the day making similar allegations.
The securities class action efforts led by Belmont Holdings have so far yielded little.
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This settlement is yet another example of how class action lawsuits can be a one-sided sham.
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But one thing is clear: Plaintiff or class action securities lawyers are not welcome.
Now class action lawsuits are being filed against analysts and their employers for their bullish recommendations.
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