A class action lawsuit is an efficient method to resolve large-scale legal disputes. Rather than filing hundreds – or even thousands – of individual lawsuits, a class action permits one or several plaintiffs to pursue a single lawsuit and to represent the interests of all similarly harmed parties. Class actions also help ensure consistent results, instead of an entire spectrum of varying outcomes if hundreds or thousands of individual cases were litigated.
If you have suffered financial loss or damages, you may be considering filing a lawsuit, or if a class action has already been filed, remaining part of the class or opting out of the class action. You should consider the following before making your decision:
What Are Your Damages?
If the amount of your damages is relatively small, it may not make sense to pursue an individual claim. Under such circumstances, you may want to consult with a securities fraud attorney and file your case as a class action.
The Complexity and Size of Your Case
The number of issues present and potential size of your claim can help determine whether individual litigation or arbitration is the correct path for you. Alternatively, your case could form the basis for a class action that would pursue claims on behalf of you and others in the same position as you. If so, you may qualify to be the lead plaintiff in a class action.
Does a Class Action Lawsuit Already Exist?
If a class action already exists, you ultimately should be provided with an “opt-out” period within which you must decide whether (1) to remain part of the class, through which you would be bound by the results of the class action or (2) to pursue your own lawsuit or individual arbitration claim.
Call a Los Angeles Securities Fraud Attorney Today
If you have suffered damages or financial loss, you may have certain legal rights that require your immediate attention. If you have questions about how class actions work, contact an experienced Los Angeles securities fraud lawyer for a consultation today.