What happens after a class action lawsuit is settled?

After a class action lawsuit is settled, the court will approve both the settlement proposed by the parties and the manner in which the settlement funds will be distributed. Generally, the parties will enter into a written settlement agreement that sets forth the detailed terms for how the settlement will be executed. Once the court has approved the settlement agreement it must be adhered to by the parties. Depending on the case, the settlement may involve some form of monetary or non-monetary compensation. If the settlement involves a payment of money, the court will usually require that the money being paid out is held in escrow until all members of the class involved in the action have been identified and the claims process is complete. The court will also ensure that notice is given to all individuals who may be affected by the settlement. This notice will contain information about the settlement and the terms of the agreement. It will also include instructions on how members of the class can file a claim for their portion of the settlement. Once all claims are processed, the court will approve the payments and the settlement funds will be distributed to the members of the class. After the settlement funds are dispersed, the class action lawsuit will be considered concluded.

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What happens after a class action lawsuit is settled?

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