As defined in the wikipedia, “a class action… is a form of lawsuit where a large group of people collectively bring a claim to court.” Class action settlements are among the most widely known and publicized. Some of the class actions that have received the most attention are:
Asbestos / Mesothelioma Settlement
The first lawsuits against asbestos manufacturers were brought in 1929.* Since then, various settlements have sought to limit liability and establish payout funds to care for victims of asbestos-related cancers. [more]
Vioxx Settlement
The drug Vioxx is said to cause heart attacks and stroke. Approximately 50,000 claimants filed for compensation under the Vioxx Settlement, which entered its final phases in 2008.
Debeers Diamond Class Action Settlement
It is alleged that Debeers diamond company participated in price fixing of the diamond market. Approximately $300 million has been made available to compensate consumers and retailers who purchased or sold Debeers diamonds between January 1994 and March 1996.* [more]
Microsoft Class Action Settlement
Lawsuits were brought against Microsoft Corporation alleging that they participated in anti-competitive schemes. Remedies vary state by state. [more]
Fen Phen Settlement
The anti-obesity medicine Fen Phen was proven to cause hypertension and heart problems. The manufacturer, Wyeth, has set aside over $20 million to pay claims.*
Securities Class Action Settlements
According to the Stanford Securities Class Action Clearinghouse, since the Private Securities Litigation Reform Act of 1995, more than 3000 issuers have been named in federal class action securities fraud lawsuits. These involve compensation for losses due to insider trading, options backdating, fraud and other illegal activities.
Google Books Settlement
The online powerhouse Google has been sued under a class action lawsuit alleging that they violated the copyrights of thousands of authors “by scanning their Books, creating an electronic database and displaying short excerpts without the permission of the copyright holders.”* Claimants have until June 5, 2010 to file. [more]
Coupon Settlements
So called “coupon settlements” are the focus of a lot of ethical debate in the legal community. This is a term loosely applied to any class action settlement where the represented group receives only a few dollars or a coupon for goods while the lawyers get as much as 40% of the total claim in cash.* Who really wins here?
Defendant Class Action Settlements
Defendant class action settlements are where a group is accused of committing or harboring illegal activities. A perfect example is the class action brought in 2005 against the Archidiocese of Portland for priest sex abuse.*
