Whether you are thinking about working to initiate a class action lawsuit or participate in an existing case, it is vital to review all of your options and make the right call. Class actions offer a number of benefits, but for some people, it is better to take legal action individually as opposed to participating in a case with a group.
Large corporations and other negligent parties responsible for widespread suffering as a result of their negligence must answer for their actions. Successful class action lawsuits can help provide victims with significant financial relief.
Looking at the most common causes of class actions
A 2019 report published by the Federal Trade Commission provides insightful information on various facets of class action lawsuits. According to the FTC’s report, class action cases surface for many reasons. Among the cases analyzed in this report, more class actions resulted from improper payments and misrepresentation than other factors.
Reviewing other statistics on class action cases
Debt collection, mortgages, price inflation and product malfunction also accounted for many of the class actions reviewed by the FTC. Moreover, an overwhelming majority of these cases ended up in federal court (93%) as opposed to state court (7%).
Class action cases are advantageous in a number of situations, especially when a large number of people suffer due to a company’s carelessness. Sometimes, these cases increase the odds of success for an entire group of people suffering, as opposed to each party filing suit on their own. However, you need to review your circumstances on an individual basis and determine the best course of action.