What is an aggregate settlement in a class action lawsuit?

An aggregate settlement in a class action lawsuit is when the company or organization being sued agrees to compensate all members of the class with the same settlement amount. This amount is split across all class members and is collected on their behalf by the class representative and their attorneys. A class action lawsuit starts when a person or group of people file a lawsuit against a company or organization. Class action lawsuits involve a group of individuals who have similar legal issues and have been harmed by the same company or organization. All individuals who are part of the class are considered a single party for the purpose of the suit. In a class action lawsuit, a designated class representative is the one who represents the interests of the entire group, taking responsibility for negotiations with the company or organization. If an agreement can be reached, the class representative will arrange for an aggregate settlement. This means that the company or organization agrees to pay out an agreed-upon amount that will be split among all members of the class. In North Carolina, the aggregate settlement must be reviewed and approved by the court before it can be made official. All parties involved must agree to the terms of the settlement, and class members must sign a document waiving their right to legally pursue the company or organization for the same claim.

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What is an aggregate settlement in a class action lawsuit?

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