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How do class action suits work?

| Apr 26, 2019 | Class Actions

Some of what banks do may seem unfair. Assessing heavy fees for various errors, paying out very small interest rates or issuing risky mortgages are all good examples of questionable ethical procedures. However, they are not always illegal. 

The illegal actions are often much subtler and tend to require more investigation. Federal regulations governing financial institutions are exhaustive, this is one of the most complicated sections of the law. to go up against a big company, especially a financial institution, you may need help. At Grubb Law Group, we are proud to represent our client’s interests with tenacity, courage and integrity, regardless of how powerful our adversaries may be. 

As explained on FindLaw, you may find that your chances would be improved against a major organization if you joined in or started a class action suit. You have probably heard these suits before. This type of mass tort litigation could offer you the support you need to engage in high-level negotiations and litigation against large companies, such as banks, lending institutions, aviation companies or pharmaceutical conglomerates. Even if the loss you suffered were relatively minor compared to the vast resources of your opponent, this format could be a way for you to get your voice heard.

The idea behind class actions is to get justice against companies who break their promises, causing small amounts of damage to many clients or customers. What represents only a minor loss to one person could result in huge, illicit gains for companies who repeat their unethical acts hundreds, thousands or even tens of thousands of times.

If you were to receive a judgment or settlement as the named party in a class action suit, the final distribution of money would likely be divided against all other affected parties who opted in to — or did not opt out of — the case. The total agreement would probably also cover the extensive research and court-ordered publicity for the suit, leaving you with an even share of the damages. 

Your class action case would probably take a long time to research and be difficult to assess. We make a point of focusing on the details, getting you the best chance possible of getting justice. Please read more on our main website.

If your rights were violated by an employer or company, we want to hear about it. Our friendly staff and team of attorneys will treat you with respect, listen to your story and lay out all available options. Whether it’s better to settle out of court or take matters before a judge, you can rest assured knowing we will only do what’s in your best interests.