Class actions allow individuals and small businesses who have been wronged by a larger corporation to combine their claims when the damage to an individual and/or small business is not enough for them to bring the claim by themselves. A good analogy of a class action is where company wrongfully takes a dollar from a million people as opposed to a million dollars from one person. While one person could certainly bring a case to recover a million dollars, one person is not likely to sue to recover one dollar, but a class action enables the million people to combine their claims in one action.
All types of cases can be brought as class actions. Consumer class actions, which are based upon overcharges or companies' failures to adhere to disclosure requirements, help the "little guy" recover from large companies. Antitrust actions are generally brought as class actions when there is collusion amongst the dominant companies in a certain market to either artificially raise prices or to allocate customers or territory. Securities fraud actions are typically brought as class actions. Essentially those class actions try to recoup the losses of individual shareholders due to corporate officer fraud and malfeasance. This type of class action became well known during the 2000's because of cases like Enron and WorldCom.
While class actions may be the only avenue for individuals to recover small amounts from large companies, filing and managing a class action is a very complicated and costly endeavor. As such, there are very few firms that get involved with class actions lawsuits. Attorneys at Lindsay & Lacy, PC have years of experience in identifying, evaluating, and filing class-action cases both on the antitrust and consumer fronts. We stand ready to assist you if you believe you are a class member or if you believe you have been wronged by company that is treating others in your situation in a similar dishonest manner.