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In the United States, the class representative, also called a lead plaintiff, named plaintiff, or representative plaintiff, is the named party in a class-action lawsuit. [66] Although the class representative is named as a party to the litigation, the court must approve the class representative when it certifies the lawsuit as a class action.
Class action waivers have not been tested in Indian courts, though Order 1 Rule 8 of the Code of Civil Procedure allows for consumers, with court permission, to initiate class action lawsuits, which the Indian law firm Shardul Amarchand Mangaldas & Co notes can be problematic for the enforceability of class action waivers. [31]
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Class members can opt out of the monetary part of the settlement in addition to objecting in court. Visa, MasterCard, and issuing banks can scuttle the settlement if merchants that account for 25 percent or more of credit card spending in the United States since January 1, 2004, to the approval of the settlement. [11]
The number of securities class action suits jumped by 17.2% in the past year, according to a new report from ISS Securities Class Action Services. The total monetary settlements in 2021 reached $3 ...
A securities class action (SCA), or securities fraud class action, is a lawsuit filed by investors who bought or sold a company's publicly traded securities within a specific period of time (known as a “class period”) and suffered economic injury as a result of violations of the securities laws.
A lawsuit is a proceeding by one or more parties (the plaintiff or claimant) against one or more parties (the defendant) in a civil court of law. [1] The archaic term "suit in law" is found in only a small number of laws still in effect today. The term "lawsuit" is used with respect to a civil action brought by a plaintiff (a party who claims ...