What is a class action condition of settlement?

A class action condition of settlement is an agreement that is made between a group of plaintiffs (people who have filed a lawsuit) and a defendant (the person or group they are suing). This agreement is reached after all parties involved have negotiated a settlement that is fair and beneficial to all sides. A class action condition of settlement may include a variety of different provisions, such as a payment of money from the defendant to the plaintiffs, an agreement to change certain business practices, or a promise to make improvements to a product or service. In Arkansas, the specific terms and conditions of a class action settlement must be in writing and must be approved by the court. The settlement must also be in the best interests of all members of the plaintiff class. Before the court will approve a settlement, it must ensure that it is fair, reasonable, and adequate for the plaintiffs and that the plaintiffs have been fully informed of all the rights and obligations that come with the settlement.

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What is a class action condition of settlement?

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