How to Opt Out of a Class Action Lawsuit
These days it's not uncommon to find yourself involved in class action lawsuits without having any prior knowledge of the case. A letter comes from a lawyer's office telling you about the case and giving you the option of proceeding as part of the class or opting out. Before you opt out of a class action lawsuit, here are some items to consider.
Instructions
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Assess your investment in the lawsuit. If you stand to gain more in a private suit than you would in a class action lawsuit, then you may need to consider opting out of the class action suit. Realize that in a private lawsuit, you are the one paying the lawyer fees.
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2
Determine if your situation fits that of the members of the class action suit. If it doesn't, it may be in your best interest to opt out.
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Check the qualifications for the lawyers representing the class action lawsuit. If the lawyers seem incompetent to handle the case, opt out of the lawsuit.
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Decide if the lead plaintiffs are your best representatives. If they don't represent your best interests, you may want to opt out.
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Evaluate if the class action lawsuit presents the best timing for you. If you feel you stand a better chance of winning your own individual lawsuit at a later date, then opt out of the class action suit. Or, you may feel the need to present your own class action lawsuit.
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Realize that if you do opt out, then you are no longer eligible to receive any monetary rewards as a result of the class action lawsuit.
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