How much money do you get for a class action lawsuit?

How much money do you get for a class action lawsuit?

If you have received a class action lawsuit notice, you may have asked yourself the question, “How much money do you get from a class action lawsuit?” According to statistics derived by NERA Economic Consulting, average settlements in the past few years have been about $56.5 million

Is it worth joining class action lawsuit?

If you have limited time and financial resources, a class action lawsuit may be the only viable way to receive the compensation you deserve. Here are some advantages of joining a class action lawsuit: No lawyer fees. If the case is successful, attorneys are usually paid out of the recoveries.

How long does a class action suit take to settle?

Some class action lawsuits can take as little as a few months and as long as several years. These kinds of cases can typically take around two or three years to be resolved, while others can take even longer. When court rulings are appealed, the process gets further prolonged.

How many people can be in a class action lawsuit?

While there is no exact number needed for a class action lawsuit, it is difficult to form a class to receive certification with less than 20 members. A class with at least a few dozen members is preferred and will likely be certified and move forward.

How much do plaintiffs get in class action lawsuits?

A typical contingency fee is between 25 and 35 percent, and a class-action attorney’s contingency fee is usually a bit lower, at 20 to 30 percent. When you consider that class-action suits can typically result in settlements of hundreds of millions of dollars, that lower percentage doesn’t look so bad.

How much do lawyers make in class action suits?

The average fee for class counsel was $1.96 million, compared with an average of $3.39 million paid to class members. But the median fee was $966,250, while the median payout to class members was less at $842,500, meaning in half the cases clients got less than their lawyers

Is it bad to join a class action lawsuit?

Yes. While joining a class action lawsuit will not cost you a dime upfront, you give up your right to recover compensation individually. If your injuries are substantially worse than other plaintiffs in your class, joining a class action could end up costing you thousands or millions down the road.

What is the Settlement Class?

In modern class action practice, most class actions are certified. not for litigation, but for settlement.1 Known as “settlement class ac- tions,” such proceedings provide a mechanism for defendants to re- solve mass liability exposure without the risk of a class trial.