Class Action Litigation - Consumer Fraud Securities Litigation & Arbitration
110 Wall Street -11th Floor New York, New York 10005 212.748.4800
191 Terry Road Smithtown, New York 11787 631.366.3065
CLASS ACTIONS ARE CRUCIAL IN PROTECTING
The U.S. Supreme Court has recognized the importance of the class action:
"The policy at the very core of the class action mechanism is to overcome the problem that small recoveries do not provide the incentive for any individual to bring a solo action prosecuting his or her rights."Amchem Prods., Inc. v. Windsor, 521 U.S. 591, 617 (1997).
In enacting the Class Action Fairness Act of 2005, Congress recognized the importance of the class action device: “Class action lawsuits are an important and valuable part of the legal system when they permit the fair and efficient resolution of legitimate claims of numerous parties by allowing the claims to be aggregated . . . .” Pub. L. No. 109-2,§ 2(a)(1), 119 Stat. 4 (2005)
U.S. federal courts agree:
"Class actions are often the most suitable methods for resolving suits to enforce consumer protection laws because the awards in an individual case are often too small to encourage the lone consumer to file suit." Carr v. Trans Union Corp., 1995 U.S. Dist. LEXIS 567 (E.D. Pa. 1995)
Nackman & Feinberg LLP is dedicated to protecting the rights of consumers and employees by challenging business practices that defraud or abuse. The firm currently serves as lead or co-lead counsel on consumer class action litigation throughout the United States.
We have the experience and resources to prosecute cases in state and federal court no matter how varied or complex the claims. The attorneys at Nackman & Feinberg LLP have a combination of experience as in-house Wall Street counsel, as prosecutors, and in private practice - an invaluable resource in prosecuting consumer, investor and employment-related claims. If you feel that you have been a victim of a deceptive or unfair business practice, employer abuse or securities fraud, please use the contact us link.
WHAT IS A CLASS ACTION?
A class action is a legal procedure used to efficiently prosecute a lawsuit in which a large number of people have been economically injured by a common act or set of actions. The class process is used, for example, in cases alleging or concerning price fixing conspiracies (antitrust), fraudulent stock manipulation (securities) and violation of consumer protection statutes.
Class actions are often brought against corporations such as telephone companies, banks, credit card issuers, and cable or cellular providers, for example, when they engage in deceptive, illegal, or prohibited conduct with the result that large numbers of consumers are affected by the same conduct. Class actions are brought against the manufacturers of defective products. They may also be brought against a company or its officers on behalf of a class of shareholders in the company.
In a class action, one or two named plaintiffs - known as "class representatives" - stand in for the entire group of similarly situated persons during the course of the litigation. When a class action settles, the judge presiding over the case must approve the fairness and propriety of the settlement. Usually, potential class members have the option, after receiving notice, of excluding themselves from a class or class settlement, and pursuing the case on their own.
The class procedure allows individuals and small businesses to prosecute meritorious cases that would have been too expensive and inefficient to litigate individually. By doing so, the class action promotes two principal goals. It provides a useful mechanism for prosecuting the claims of many persons whose injuries added together are significant, but which, individually, would not be large enough to justify the expense of bringing individual lawsuits. It also prevents the clogging of the court system by allowing the similar claims of thousands of individuals to be adjudicated in one single action.
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