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Class Action Lawsuits in the United States

CLASS ACTION LAWSUITS LAW What is a Class Action Lawsuit? Federal Class Action Suit Criteria A class action lawsuit is an action in which a set of individuals with a common complaint affected by the same product, service or situation file a case in court against the defendant as one group. 1. Claim must exceed $5 Milliion 2. Must be plaintiffs or defendants from multiple states Collective lawsuits originated in the United States and are still predominantly a U.S. phenomenon. But, in several European countries with civil law changes have been made in recent years to allow consumer organizations to bring claims on behalf of consumers. 3. Over 100 class action members Interesting Statistics & Trends Over the past 8 years corperate spending on class action suits has been relatively consistent. In 2012 U.S. Corporations Spent... $99.8 Billion on legal services $18.9 Billion on litigation $2.1 Billion on class actions 2006 2007 2008 2009 2010 2011 2012 2013 Infamous Class Action Lawsuits 46 State VS. 6 Major Tobbaco Сompanies North American Women VS. Attorney Generals Silicon Implant Manefacturers $206 Billion $3.4 Billion The states demanded that any money spent by the state on smoking-related medical costs should be repaid by the tobacco companies. The class action lawsuit also sought to create and enforce laws to stop children under the age of 18 from smoking. An amount of over $206 billion will be paid out over the next 25 years by the tobacco companies. For years women who had undergone breast augmentation surgery claimed that after receiving their silicone implants they had suffered from autoimmune disease. The major implant manufacturers indicted in the case were Corning, Baxter, Bristol-Meyers Squibb/MEC, 3M, who were later required to pay these women $3.4 billion for their pain and suffering. Shareholders Fisherman, Natives, land VS. Enron VS. Exxon Valdez Mobil owners, etc. $7.2 Billion $500 Million In 2006, Enron Corporation was forced to pay $7.2 billion to shareholders in a class action lawsuit. The suit claimed that Enron committed fraud by hiding company financial losses from investors. They concealed the fact that they were rapidly losing millions by blaming their losses on outside entities so that they would not have to disclose their gross losses in their annual reports. ExxonMobil became involved in a class action lawsuit following the Exxon Valdez oil spill. This oil spill took place in Alaska and affected over 1,300 miles of coastline as well as the lives and jobs of thousands of people. ExxonMobil was convicted in the class action lawsuit and had to pay $500 million in damages to numerous parties.

Class Action Lawsuits in the United States

shared by tompkinslaw on Jul 22
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Read through this infographic to understand class action lawsuits.

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law

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Human Rights
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