Class Action Settlement
/ˈklæs ˈækʃən ˈsɛtlmənt/
Definitions
- (n.) A legal agreement resolving a class action lawsuit, in which the parties agree to settle claims on behalf of the entire class, subject to court approval.
The class action settlement provided compensation to all affected consumers without proceeding to trial.
Forms
- class action settlement
- class action settlements
Related terms
See also
Commentary
Class action settlements require court approval to ensure fairness to absent class members and often include provisions for notice and the option to opt out.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.