Large class action settlements often garner a great deal of media attention. For instance, Toyota recently reached a proposed settlement of more than $1 billion to resolve claims in a class action lawsuit regarding allegations of unintended acceleration during 2009 and 2010.
Consumers often wonder if they are entitled to a portion of a class action settlement and, if so, how they can collect their share of the class action settlement.
Damage awards – whether a judgment or a settlement – in a class action lawsuit compensate the large group of plaintiffs with similar claims against the defendant. In a class action lawsuit, there are typically a small number of named plaintiffs, who act as representatives of the larger group of plaintiffs. Individuals who agree to become members of the plaintiff class generally relinquish their rights to sue the defendant in an individual lawsuit.
In order to collect money from a class action damages award, your must first identify yourself as a member of the class action lawsuit. Oftentimes, eligible members of a class action lawsuit will receive a notice in the mail with instructions on how to become a member of the class. If you have not received notice in the mail, you should contact a knowledgeable class action attorney, like the Chicago class action lawyers at Ankin Law Office, LLC, to learn more about the necessary steps to becoming a member of the class.
In most cases, if you have been named as part of the plaintiff class, your portion of the settlement or verdict will be mailed directly to you. If you do not receive your share of the damage award, you should immediately contact a class action lawyer.
Class actions are complex legal matters, making the legal representation of a skilled class action attorney crucial to collecting your share of any class action settlement or verdict. The Chicago class action attorneys at Ankin Law Offices, LLC have considerable experienced representing plaintiffs in class action lawsuits involving automobile defects, consumer product liability claims, unsafe pharmaceuticals, employment disputes, and toxic tort matters.
Contact one of our Chicago class action attorneys to learn more about how we can help you collect your share of a class action damage award.