A class action is a civil lawsuit brought by a person or business on behalf of a group of individuals who have been harmed (or are threatened with harm) in the same way by the same defendant(s). This can happen in many different ways, such as when:
- Consumers have all purchased the same defective product (consumer protection);
- Investors have all purchased the same stock while the company misrepresented or withheld important information (securities and derivatives fraud); or
- Individuals or companies have all paid too much for a product because of a price-fixing agreement among competing producers of the product (antitrust).
The individual who brings a class action is known as the class representative or class plaintiff. Class representatives are people just like you—consumers, businesses (large or small), investors, employees and unions, just to name a few. Often, several persons and entities join together as class representatives to bring a class action.
When Weinstein Kitchenoff & Asher LLC brings a class action, our legal fees are totally contingent. This means that we get paid only if we obtain a recovery for the class. If we recover nothing for the class, then we are paid no fees. The court decides whether we will be paid and what we will be paid for our services in a class action.