When a group of people with similar injuries sues the same defendant for his/her actions or product, the lawsuit tends to be a class action. Class action lawsuits enable a large group of people to achieve good results that they will hardly be able to achieve individually. Generally, the power of Class actions lawsuits is in the number of plaintiffs. Suing as a class means consolidating the attorneys, defendant, evidence, witnesses, and most other aspects of the litigation. The most common types of Class action lawsuits include injuries caused by defective products, consumer fraud, security fraud, and so on.
Class action lawsuits based on defective products have always been leading in numbers. Defective products may include drugs and medical devices, household products, vehicles, other products that have been designed defectively. Product liability law states that companies and individuals that produce any product that is available for consumers hold responsible if the products cause harm to consumers. It follows that consumers who are damaged by defective products should be compensated for the harm. Class action lawsuits are effective ways for many consumers, harmed by the same product, to sue the defendant for damages caused by his/her product. If a successful verdict is reached, the class members are entitled to compensation based on their injuries, and the defendant is obliged to make changes in the product to prevent other consumers from damages in the future.
Consumer Fraud Class Action Lawsuits
Consumer fraud is an unlawful act that deceives consumers into paying for misrepresented services or unwanted products. False or misleading advertising, mortgage and loan fraud, deceptive overcharges, vehicle sales fraud may serve as bases for consumer fraud Class action lawsuits. As individual consumers may suffer inconsiderable losses to bring individual lawsuits, they usually combine these suits into one class action. Plaintiffs in a successful consumer fraud class actions may be awarded punitive treble damages, and reasonable attorneys fees incurred in bringing the class action.
Security Fraud Class Action
Securities fraud class action lawsuits are filed by investors who bought or sold a company’s securities within a specific period of time and suffered economic injuries as a result of violations of the securities laws. Defrauded stockholders can also bring a securities fraud class action when they lose money as a result of the intentional concealment, omission, or manipulation of financial information by a public company. A class action lawsuit lets investors join together in order to pursue recovery for the loss they suffered. If you suspect you have experienced securities fraud and have a claim that might be shared by others, consider contacting an experienced class action attorney.
The team of experienced and skillful class action attorneys at the Margarian Law firm is dedicated to serving and representing plaintiffs in a class action lawsuit. Our qualified class action attorneys aggressively prosecute class actions on behalf of consumers, investors, professionals, and businesses.