When an individual is harmed by the wrongdoing on another party, the victim may question if they are the only one. This is common when a product leads to the injury of numerous consumers or a defect has led to several injuries or deaths; however, it could also happen when consumer fraud, securities fraud, corporate misconduct and improper employment practices could lead to the same circumstances. When numerous individuals have suffered the same harm, they could come together to create a class action suit, suing the wrongdoing party together as one.
What is a class action suit?
In simple terms, a class action suit is the legal vehicle used by a number of people that have suffered the same or similar injuries to sue the party at fault for these harms. In some cases, the injuries of the individuals involved are relatively minor; however, the culmination of the claims of the class adds up, making the value of the claim much higher. This ultimately allows for redress for the harms suffered to be available.
The benefits of a class action matter
The major benefit of this type of lawsuit is its ability to bring together numerous suits that individually would be impractical to litigate. As a result, it makes this process more efficient. Another benefit is the fact that if they win the matter, everyone in the class receives something. While this may not be the amount needed to fully cover the damages he or she suffered, it does reduce the high costs associated with an individual action and reduces the chances of losing the action as well.
Complex litigation matters are just that, complex and multifaceted. Thus, it is imperative that those involved in such a matter fully explore the situation what options they might have moving forward. Understanding the process, how a class action can be a beneficial step to take and what setbacks may be involved is essential to understand when considering a class action suit.