1. What’s Class Action?
Class action lawsuits are a legal process where a large number of individuals who have suffered similar damages come together to appoint a “representative” to act on behalf of all victims in court proceedings. It’s a way of suing as a group, which helps reduce costs and ensures that all victims receive equal compensation for their losses.
The benefits of class action lawsuits include:
- Increase bargaining power because the plaintiff acts as the representation for all victims.
- You do not required to follow the verdict in criminal proceedings unless it helps the plaintiff.
- Separating several cases for litigation may cause delays in case enforcement. For example, there could be several victims, each with fewer assets, resulting in delayed compensation for everyone.
The roles of relevant agencies are as follows:
- The Securities and Exchange Commission and DSI have the authority to inspect papers.
- The Anti-Money Laundering Office has the authority to trace money transfer trails.
- Note A Class Action Lawsuit might request papers and data from these entities.
- The media can draw attention to the case and contribute to its ongoing advancement.
2. Come together and seek legal representation.
- Unite the victims’ power and pick representatives who will represent the group in court as the “plaintiffs” and their teams.
- Hire a lawyer to draft the case.
- Agree on strategies and work together to implement them.
3. File a petition requesting that the court examine your case as a class action.
The court will give both parties the opportunity to argue why the case should or should not be accepted as a class action, which usually takes 6 months to a year before proceeding to the next step of the judicial procedure.
Advantages of Joining a Class Action Lawsuit
Signing up indicates that you intend to join the group of impacted individuals. This is because we cannot predict how the court will define the group’s borders or if they would include what we asked. If the action is successful, you will be approached for a portion of the award.
Signing up does not bind you to the case, and you are not required to attend court. However, you have the right to participate in the court’s decision-making process.
You will receive periodic updates on the case’s progress and will be invited to join in conversations and activities with other impacted individuals who have formed the ‘Zipmex Class Action Group,’ which will include opportunity to ask questions of the working group and speakers.
It is a collective demonstration of power among the affected persons that we will not tolerate wrongdoing, and together we reinforce the call for government intervention to adequately address the situation.
