Class Action Lawsuits: Is Researching Current Cases Really Worth It?
- Author: Johnnie Padberg
- Posted: 2022-11-20
A lot of people don't follow the latest class action lawsuit news because they believe that research and class action processes are a waste of time. They think that they won't find a settlement or that making a claim requires too much work or additional class member proof.
Some feel that they're only going to receive a few dollars that they can acquire in other, less time-consuming ways.
Opting for a settlement amount also typically means that they can't file a separate lawsuit against the company at a later date if they discover they've been harmed far worse than they originally thought.
If these concerns are legitimate, why then are class actions worth your time?
Extra Funds During Difficult Times
Consumers have learned many life lessons during recent difficult times. One of the biggest ones is that product and service prices can increase literally overnight, as dictated by natural and manmade local, national and world events.
Everyone can benefit from extra cash no matter their background. Companies know this as well. It's why many manufacturers offer coupons and rebates to consumers. It's why they offer cash and free products and services after government-mandated product recalls. Businesses also receive extra value from positive public brand perception when they act in these ways.
When a company is accused of a wrong and fails to provide compensation to consumers, a class action lawsuit guarantees that their customers receive something. The money can range from a few dollars to thousands of dollars depending on the demands of the actual plaintiff or plaintiffs in the case who initiated the lawsuit, the type of wrongdoing, the judgement and the number of class members.
Yet, everyone who makes a claim usually receives some sort of money. Without a class action lawsuit, the company might file a bankruptcy that prevents anyone from receiving anything. < br />
Additionally, even if the amount you receive is only $20, it might still make a difference in your life during a sudden emergency.
If you don't believe it, think about recent banking app commercials: Banks are offering a minimum of $20 as an overdraft protection buffer or early payment against an upcoming paycheck. Also, if you're eligible for multiple settlements, the funds can add up over time.
Warnings About Health And Safety Risks
Although companies mail product recall notices to customers, they only send them to registered customers. Otherwise, they have no way of knowing who bought their products. They also send recall notices to distributors and stores and announce the recalls via press releases and media outlets.
The problem is that a lot of people don't see the point of registering new purchases.
Many class action lawsuits also involve products that have no registration process, such as foods and over-the-counter medicines.
Some people also don't read mail or emails sent to them by stores, if a store even has their name on file, or watch the news enough to learn of these recalls.
When you research class action lawsuits regularly and receive daily or weekly notification emails from a service that tracks them, you find out important information regarding dangerous products that pose a health and safety risk.
No Clerks, Lawyers or Legal Fees Required
Unless you're a consumer who initially sues a company, you don't have to worry about hiring a clerk or lawyer to benefit from a class action lawsuit. You also don't receive any charges for filing a claim. You merely need to know that a judge approved the class action settlement terms and then file your claim.
Typically, once you have the URL for the official website that outlines the class action settlement details, you simply provide your contact information and possibly proof of status. The latter isn't always required when making a claim.
For your contact information, you usually provide your legal name, mailing address, phone number and email address. For proof of your claim and member status, when applicable, you usually only need to upload a photographed copy of an invoice or receipt to attach to your claim submission on the website or email or fax the proof to the appropriate party that's handling the settlement.
Things to Keep in Mind
As you can see, class action claims are worth it. They not only help you to eventually make extra money in an almost entirely passive fashion after you submit one, but they also hold companies accountable.
To make the most of your time, set up notification emails through major class action news websites to provide you with at least weekly updates so that you're not always manually searching for new notices. Always make copies of invoices and receipts before you destroy them. Lastly, keep a spreadsheet or list of every applicable claim URL, deadline, amount, submission expiration, date of your claim submission and the claim's status.