What is a cy pres award in a class action settlement?
A cy pres award in a class action settlement is a legal term used to describe money or property that is distributed to charities or other organizations on behalf of a group of plaintiffs in a class action lawsuit. In a class action lawsuit, one or more individual plaintiffs represent a larger group of people who have similar legal claims or common interests. The cy pres award is used to provide additional relief to members of the class action who may not be individually compensated through the class action settlement. In a class action settlement in Hawaii, the cy pres award is commonly distributed to charities or organizations that have an interest in resolving the issues or causes raised by the lawsuit. For example, if a class action lawsuit is brought to address an environmental concern in the state, the cy pres award might be given to an environmental charity. Similarly, if a class action lawsuit involves discrimination claims, the cy pres award might be given to organizations dedicated to promoting equal rights and preventing discrimination. Regardless of the type of class action lawsuit or the purpose of the cy pres award, these funds can be used to further the goals of the cause that the lawsuit sought to address. This can provide an additional measure of justice to those affected by the issue raised in the class action lawsuit, even if they were not able to be compensated for their individual losses.
Related FAQs
What is an aggregate settlement in a class action lawsuit?What type of discovery is available in a class action lawsuit?
What are the steps involved in a class action lawsuit?
What is a class action settlement?
How is the class determined in a class action lawsuit?
What is an opt-in class action lawsuit?
What are the benefits of a class action lawsuit?
How is the class of plaintiffs identified and certified?
How are class action settlements distributed?
What is the role of the class action counsel?
Related Blog Posts
What is Class Action Law and How Does it Affect You? - July 31, 2023The Basics of Class Action Lawsuits: What You Need to Know - August 7, 2023
What to Expect When Filing a Class Action Lawsuit - August 14, 2023
What Are The Benefits of Participating in a Class Action Lawsuit? - August 21, 2023
How To Find a Reputable Class Action Lawyer - August 28, 2023