Settlement of a class-action suit. Benefits the large group or class represented in the action and settlements. The settlement may involve a lump sum of some type of monetary payout to each of the acknowledged plaintiffs, but the actual amount received may be small due to the number of people in the group.
Link to This DefinitionDid you find this definition of CLASS ACTION SETTLEMENT helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary