Bob; A class action will pay all members of the class, not just those who come forth.(this is complex though, for if you can determine that there are 1000 people in the class,without them coming forth, and the award is $1,000,000 in total, that is $1000 each. Attempts are made to get the class to collect etc. If however you do not know how many are in the class, and have to wait for a response, then often only those who responded are in the class. In addition a % goes to the law firms, 25-40% + some expenses, is typical)
The will be advertisements for those who are part of any defined class. They will say all those are in certain loss categories, call us. They will define the categories, and if you fit, call them. But if you bought at 28 cents 2 years ago, and sold at $3 after the fall before the final death, you are in a profit position, no loss.So they will define the class to gather the true loss people, and then launch an attack on the companies and insurers, and brokers etc etc. They will make broad claims and hope it stick to someone.
Do some research. Brokers will try to minimize, as they may be able to head off some lawsuits. Be wary of signing any "updated" agreements with your broker.
Bill |
