In a class-action suit, how much, if any input, does the lead plaintiff have in deciding how much to sue for?
Elmhurst, NY |
I am contemplating such an action and have come up with a very conservative amount, based upon my accounting degree and financials available to me. Of course, I wouldn't object if it was for a lot more.
Very little usually in my experience. Many times once the suit is certified, a settlement agreement is reached that is ultimately approved by the judge. Why do you think your cause of action would be certified as a class?
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Compensation in a class action is distributed to the class members based on the injuries that they have suffered. The lead plaintiff is compensated based on the injury that they have sustained. Often the lead plaintiff(s) may also receive some additional compensation for the extra involvement that they have had in the case.
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It sounds to me as if you are talking about the fundamental theory of the case and as if you are a sophisticated potential party. Often times that kind of input can be very helpful to the attorneys with whom you consult regarding the case. However, in almost every jurisdiction you not have to state a specific dollar amount when filing the suit, beyond a very insignificant jurisdictional amount (e.g. "More than $10,000), so your analysis of where it all might lead could be invaluable to your attorneys.
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