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424-835-5733 | 310-525-3516

You may have lost money in your investment portfolio,
due to mismanagement and not even know it.

Can you be a part of a class action lawsuit?

When scores of investors are defrauded in the same manner by either an unscrupulous  broker or advisor, the law allows them to join together in bringing one lawsuit. This is called a class action, and it enables a larger group people, usually hundreds or thousands of potential plaintiffs, who were harmed to be represented by a smaller group, about 10 to 20 people, which is known as the “class.”

With any class action, two elements must exist:

-          The issues in dispute or harms claimed must be common to all the members of the class; and

-          The number of people affected must be so large that it would be impracticable to bring them all before the court. 

Also, the choices made by the class, and the rulings against it binds all members of the class, unless they exercise their right to “opt out” of the class and bring their own individual claims.

The choice of being a part of a class action is very important, even though the rewards may seem benign on an individual scale. After all, real change, whether it is by retailers or investment firms, comes when consumers band together and ensure that their voices are heard. The damages that can be awarded to classes, as a whole are much larger than individual awards and force class action defendants to respond to consumer complaints in a meaningful manner.

If you have questions about your participation in a class action, either as a named plaintiff or as a class member, an experienced attorney can advise you. 

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