If you have a problem with a company like product defects or alleged fraud you might think of starting a class action lawsuit. Class action lawsuits allow a person or a small group of people to file a case against a company on behalf of a larger group with similar claims.
You may have heard of numerous high-profile class action lawsuits. Some of them relate to securities fraud, but there have also been popular claims made in pharmaceutical drugs, unhealthy products or credit card abuse.
For example, AT&T paid a $45 million settlement to consumers who complained that they had received unsolicited automated cell-phone calls. Or, a $130 million class action lawsuit was made against red light camera manufacturers in Texas.
Of course, often this is a better approach for injured parties since otherwise, they might face a lot of costs and time constraints. When customers make a claim against a company in a group, thousands of plaintiffs act in a team which is much more economical.
Before you make up your mind to join a group of people in a similar lawsuit, consider these challenges and barrier to know precisely where you are going.
Don’t Expect a Fat Payday
Often, companies pay millions, but because there are too many people involved in the suit, they often end up with very little in their pocket. For example, if 40 million people are part of a claim in a debit or credit card fraud action, they wouldn’t get more than $1.5 if $56 million is paid.
You Have Little Power Over the Process
Often you may receive a notice that you are part of such a suit. However, you may decide to opt out and pursue your individual claim.
When you become a member of a similar lawsuit, you have little power over the representation. You cannot define the parameters of the representation. You do not pick up the representatives and have no power to dismiss them.
Consult Experienced Attorneys Before You Join a Class Action Lawsuit
What you need to do is to consult an attorney with expertise in this practice area to find out what your chances are and whether you really need to be part of the game.
The knowledgeable attorneys at Margaryan Law Firm have years of experience in the field, and they can provide free consultations to you whether you should or should not join the claims.
At this point, we encourage you to dial (818) 553-1000, and we will decide together how to proceed.
