Class Action Lawsuits: Protecting Investors And Changing Corporate Behavior
Investors and consumers have rights. There are laws in place to protect shareholders from unfair practices. When these rights are violated, it’s important to know that you have options. Founded by Richard A. Maniskas in 2010 and based in Berwyn, RM LAW represents clients throughout the United States and around the world in consumer fraud and securities class action lawsuits.
In a class action lawsuit, the selected representatives of a group of similarly situated persons assert claims against corporations to recover damages for the class as a whole. Aggregating the claims of many injured individuals in a class action makes particular sense where the harm to any one person is insufficient to justify extremely costly litigation against a well-funded defendant. With over 20 years of experience, attorney Maniskas is well-versed in pursuing justice for securities fraud and consumer fraud in class action lawsuits.
How Does A Class Action Lawsuit Work?
Class action lawsuits are complex, especially in the realms of investments and securities. However, a class action allows a group of similarly situated individuals to come together to fight against injustice and hold large corporations accountable for their actions. A class action lawsuit has several different steps, including:
- Filing the lawsuit: The entire process begins when an individual or group files a lawsuit on behalf of a larger group facing similar issues.
- Class certification: The court decides whether the case meets the criteria to proceed as a class action.
- Notification: Potential class members are informed about the lawsuit and given the option to join.
- Discovery and pretrial motions: Both sides gather evidence and make legal arguments.
- Settlement or trial: The case may end in a settlement or if no agreement can be reached, it will proceed to trial.
- Distribution of damages: If successful, damages are distributed among class members.
With over 20 years of experience, attorney Maniskas is well-equipped to navigate the complexities of class action lawsuits. He regularly helps clients monitor the intricacies of complex merger and acquisition transactions to ensure compliance, has a thorough understanding of securities laws and regulations and can assess what actions equate to fraud or misconduct.
What Are The Benefits Of Pursuing A Class Action Lawsuit?
A class action lawsuit combines many plaintiffs together, and there is strength in numbers. When those who have been wronged can join together, there are many advantages to pursuing a class action suit, including:
- Shared legal costs: Legal expenses are divided among all class members, reducing the financial burden on individuals.
- Increased bargaining power: A larger group has more influence and leverage than a single plaintiff and can exert more pressure on defendants.
- Efficiency: Class actions address widespread harm more efficiently than numerous individual lawsuits.
- Consistency: With multiple plaintiffs joining together in one class action lawsuit, there is uniformity in the resolution of claims.
In a class action lawsuit, plaintiffs can achieve justice collectively and more effectively. Justice becomes much more efficient and effective than if each plaintiff had to bring their own individual claim.
How Does A Plaintiff Become Eligible To Pursue A Class Action Lawsuit?
Class actions are complicated, and not everyone qualifies. In addition, the court must certify the class and agree that the plaintiffs can join together to bring their claims against the defendant. To become a lead plaintiff or class member, you need to meet certain criteria:
- Commonality: Your claims must be similar to those of the group.
- Adequacy: You must fairly and adequately protect the interests of the class.
- Numerosity: There must be enough individuals affected to justify a class action.
As a lead plaintiff, you’ll have responsibilities such as overseeing the case, but you’ll also have the potential to influence the outcome. Attorney Maniskas can help evaluate your potential class action claims and assess whether or not you may be eligible to bring a class action lawsuit or become part of a class.
How Can A Class Action Lawsuit Impact Consumers And Investors?
Successful class actions can have a significant effect on corporate practices moving forward. Overall, class action litigation serves to hold companies accountable and can lead to significant changes in the marketplace. Specifically, class action lawsuits can:
- Foster corporate accountability: Class actions can lead to accountability for corporate misconduct and can ultimately force companies to address and rectify misconduct.
- Improve consumer protections: Class actions can lead to enhanced protections and transparency in the marketplace, which leads to better practices and safeguards for consumers.
- Enhance market transparency: By publicly addressing securities fraud, class action lawsuits contribute to a more transparent market environment.
- Promote market integrity: Transparent corporate behaviors increase fairness and market integrity.
While the immediate goal of a class action lawsuit is to bring justice for wronged consumers and provide compensation for their damages and loss, there are also long-term advantages. A class action lawsuit can drive positive changes in corporate behavior and force change in a company’s practices and behaviors. Ultimately, a class action lawsuit can make the marketplace better and more fairer for all.
Consult An Experienced Class Action Attorney
Attorney Richard A. Maniskas handles class action lawsuits across the country and around the world. He is available by appointment for initial consultations. If you would like to discuss a potential claim with an experienced class action lawyer, call RM LAW. To schedule an appointment, call 484-615-2007 or send an inquiry through the firm’s website. Your rights deserve protection, and you deserve justice for any wrongdoing.