What is the statute of limitations for a class action lawsuit?

In Arkansas, the statute of limitations for a class action lawsuit is three years from when the injury or harm occurred. The statute of limitations is the amount of time a potential plaintiff has to legally file a class action lawsuit. It is important to note that this time limit that the statute of limitations provides is only applicable if the person or entity being sued knew or reasonably should have known of the injury or harm within the three year period. Therefore if the facts known at the time the cause of action arose or should have arisen, the suit must be filed within the three year period. The Arkansas statute of limitations also provides exceptions for tolling, which means that certain times can be excluded from the three year period. For example, if the person bringing the class action lawsuit was a minor or of unsound mind at the time the cause of action arose, the tolling period begins on the day that person attains the age of majority or is of sound mind. It is also important to remember that if parties reach a settlement agreement before a class action lawsuit is filed, the statute of limitations does not apply, as the parties are no longer pursuing a legal action. Therefore, in Arkansas, the statute of limitations for a class action lawsuit is three years, but the time limit can be extended or excluded with certain exceptions.

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What is the statute of limitations for a class action lawsuit?

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