We hear about class action lawsuits all the time. After all, new ones are being settled every day. But how much do you really know about them? When we hear about them, we tend to think of huge payouts and “sticking it to the corporations”. It’s David (the consumers) beating Goliath (the companies).
But do you know HOW to become part of a class actions suit? Or precisely how much the payouts will be? What about how taxes affect the amount you could be awarded? There are myriad questions that come up when you start to look at the details of class action lawsuits and their payouts.
Kiplinger has come out with a list of the 6 things you should know about Class Action lawsuits and it’s definitely worth reading. They cover everything from how to opt in (or opt out) from a class action suit to how long it generally takes to receive a settlement, to whether or not the money is taxed. You can find the article here: https://www.kiplinger.com/article/spending/T037-C000-S002-6-things-you-must-know-about-class-action-lawsuits.html EN-US;mso