class action lawsuits

How To Make Money With Class Action Lawsuits

Last Updated on April 15, 2023 / Make Money
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Have you ever heard of class action lawsuits? These are legal actions taken on behalf of a large group of people who have been wronged by a company or organization. If you have been a part of a group that has been wronged, then this type of lawsuit could be your ticket to making money. In this blog post, we will be delving into what class action lawsuits are and how you can find them to join. So, if you’re interested in learning how to make some extra cash, keep on reading!

What Are Class Action Lawsuits?

Class action lawsuits occur when a group of individuals who have suffered similar damages or harm come together to file a lawsuit against a common defendant. The primary objective is to hold the defendant accountable for their actions and to obtain a fair settlement for the plaintiffs or complainants.

Instead of filing individual lawsuits, which can be time-intensive and costly, plaintiffs pool their resources to file a single lawsuit. This method is not only more efficient, but it also increases the chances of a favorable outcome for plaintiffs.

In class action lawsuits, a lead plaintiff or lead counsel represents the group of plaintiffs, and the outcome of the lawsuit affects everyone involved in the case.

How Do Class Action Lawsuits Work?

When you join a class action lawsuit, you are essentially joining a group of plaintiffs who have all suffered similar harm or damages from the defendant. If the plaintiffs win the case, the settlement or award is divided among all the plaintiffs.

Usually, a law firm or attorney will take up your case on a contingency basis, meaning that they will only get paid if you win the case. The lead plaintiff or lead counsel represents the group of plaintiffs in court.

Examples of Class Action Lawsuits

One example of a class action lawsuit is the case against Volkswagen for their emissions scandal. In 2015, the German carmaker was found to have installed software in its diesel cars that allowed them to cheat on emissions tests. As a result, the company was ordered to pay $14.7 billion to the owners of those cars, as well as invest heavily in electric vehicle infrastructure and zero emissions technology.

How To Make Money With Class Action Lawsuits

One of the most talked about lawsuits was against Apple for its “Batterygate” scandal. The lawsuit alleged that Apple intentionally designed its iPhones to slow down when the battery gets older, causing them to become less responsive and eventually stop working. In March 2021, Apple agreed to pay a minimum of $310 million to settle the case. Over 2.2 million claims for compensation were approved before removing duplicates.

Another example is the class action lawsuit against T-Mobile. The suit alleged that the cell phone provider engaged in deceptive practices by charging customers for services they did not use. As part of the settlement, T-Mobile was ordered to pay $90 million in damages and refund customers for services they had been inaccurately charged for. T-Mobile is now currently fighting another class action suit for a data breach. If you were T-Mobile customer in 2021, you may want to submit a claim. 

How to Find Class Action Lawsuits

The first place to start looking for class action lawsuits is online. Many websites specialize in providing information about current and upcoming lawsuits. One of the most popular websites is ClassAction.org, which provides a comprehensive list of class action lawsuits across various industries. You can also search for class action lawsuits on the websites of law firms that specialize in these types of cases.

Another popular website for finding class action lawsuits is Top Class Actions. This website allows you to search for open lawsuits by industry or by company.

If you’re looking for a specific lawsuit, you can use the PACER (Public Access to Court Electronic Records) system. PACER provides public access to court records, including class action lawsuits.

Another way to find class action lawsuits to join is by using social media. There are many groups and pages on Facebook, Twitter, and other platforms that focus on raising awareness about ongoing lawsuits. By joining these groups, you can get updates on new cases and connect with others who are interested in joining.

Current High Profile Class Action Suits 2023

Here are some class action suits that are currently in litigation or have been settled, but there is still time to get in on the “action”.

Facebook Class Action Settlement 

Facebook, now known as Meta Platforms Inc., has agreed to a class action settlement worth $725 million. The settlement resolves claims that Facebook shared or gave access to Facebook user data and data about their friends to third parties without the users’ permission. It was also alleged that Facebook did not properly monitor or enforce third-party access or use of that data. If were a Facebook user between May 24th, 2007 and December 22, 2022 you may be able to get a a potential award. Click here to file a claim (it’s free to do so). I just filed my claim, and it even asked how I wanted to get my payment (I chose PayPal). The deadline to sign up is 8/25/23.

ConAgra Foods Wesson Oil Class Action Settlement 

Another class action settlement of $3 million has been agreed upon by ConAgra Foods Inc. to resolve claims that it misled consumers by falsely advertising some of their Wesson oil products as “natural”. If you bought Wesson vegetable oil, canola oil or best blend between certain timeframes (~2006-2017) in certain states (California, Colorado, Florida, Illinois, Indiana, Nebraska, New York, Ohio, Oregon, South Dakota, or Texas), you can file your claim here. You do not need proof of purchase or a receipt to file a claim. 

How to Join a Class Action Lawsuit

If you believe that you have been wronged by a company or organization, then joining a class action lawsuit may be an option for you. To join, you will need to find out if there is an existing lawsuit that covers your particular issue. You can search for cases online, or ask your lawyer if they know of any relevant cases.

Once you have found an appropriate lawsuit, you will need to file a claim. In this case, you will be asking the court to include you in the lawsuit as a plaintiff. You may also have to submit evidence that proves you were wronged, such as pictures or documents. After your claim has been accepted, the court will decide if you are eligible to receive compensation.

I’m sure you’ve all seen the advertisements saying, “If you’ve taken this drug and have these side effects, contact us today”. I’ve actually submitted claims to a few medications that my late father and my children have taken and had said side effects with. Unfortunately for some reason or another, they never qualified. 

Benefits of Joining a Class Action Lawsuit

Joining a class action lawsuit has several benefits compared to pursuing an individual lawsuit. One of the biggest benefits is that it allows you to leverage the strength of a group to get a better outcome. This means that you have a greater chance of winning and receiving a higher settlement.

Another benefit of joining a class action lawsuit is that it is often less expensive than pursuing an individual lawsuit. This is because the legal fees are shared among the group members, making it more affordable for everyone.

How much money can you make with a class action lawsuit?

The amount of money you can make with a class action lawsuit depends on several factors, such as the size of the group, the severity of the wrongdoing, and the legal fees involved. In general, the larger the group, the higher the settlement amount. This means that if you are part of a group of thousands of people, you could potentially make thousands of dollars in settlement money.

I got a postcard years ago about a class action suit against Google. I signed up at the URL listed on the postcard, and I received a check for under $1 a couple years later. So don’t plan on getting rich quick! 

Sometimes you are automatically enrolled in a class action suit and don’t even know it. For instance, I got a check from Blue Cross Blue Shield last year for $47 saying it was my share of a BCBS class action suit from years ago. I had no problem cashing that check!

Conclusion

In conclusion, joining a class action lawsuit may be a way to make some extra cash. Not only does it allow you to leverage the strength of a group to get a better outcome, but it is also often less expensive than pursuing an individual lawsuit. By following the tips outlined in this blog post, you’ll be on your way to finding class action lawsuits to join and potentially earning some extra money. Just remember to do your research and choose a reputable lawsuit to join. 

Kim Rowley Lohrberg
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